Now there is also the figure. As anticipated yesterday, Ubs, the largest Swiss bank, is in advanced negotiations to buy its rival Credit Suisse and avoid a collapse on the markets; and the deal is so advanced that it should close in the next few hours in order to avoid a panic in the markets on Monday. According to the Financial Times newspaper, UBS would have offered one billion to buy Credit Suisse.
But according to the Bloomberg agency, Credit Suisse would be against UBS’s billion-dollar offer and would be rejecting it supported by its largest shareholder. And he adds that Credit Suisse considers the offer too low and not good for shareholders.
The acquisition would have the approval and support of the Swiss National Bank and the Swiss regulatory authority Finma, who also according to the FT would like to find a solution by Sunday evening. The two banks’ boards are expected to meet separately this weekend to weigh the idea of a combination, the FT also stresses. BlackRock is not participating in any plans to acquire all or part of Credit Suisse, and has no interest in doing so. This was stated, as reported by Bloomberg, a spokesman for the US giant. Blackrock thus denies that he is working on his offer for Credit Suisse, as reported by the Financial Times. Thus, only the possibility of acquisition by UBS would remain at stake for the credit institution, an operation on which there would be the endorsement of the Swiss Central Bank and the Swiss regulatory authority Finma.