UBS Takeover of Credit Suisse Could Be Imminent. Here’s Why It Matters.


Group could complete a takeover of

Credit Suisse

Group as soon as Saturday evening, according to the Financial Times, as regulators rush to ink a merger of Switzerland’s two largest banks against a backdrop of industry turmoil. The potential end of the storied bank shows how far and how quickly worries have spread about the financial sector.

Both the

Swiss National Bank

and regulator Finma now see UBS’s (ticker: UBS) purchase as the only option to tame mounting woes at Credit Suisse (CS), the FT reported on Saturday, citing anonymous sources close to the negotiations. The Wall Street Journal is also reporting that UBS, Credit Suisse, and regulators are nearing a deal.

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