UBS seals Credit Suisse takeover in bid to calm markets

In what is being described as the "merger of the century", UBS Group sealed a deal to buy Swiss bank Credit Suisse in a historic, government-brokered deal, to avoid further market-shaking turmoil in global banking, Swiss authorities said on Sunday. The deal, aimed at containing a crisis of confidence that threatened to spread across global financial markets, came after a hectic day of negotiations between the two lenders.



March 19, 2023 at 11:38PM