UBS has started negotiations to take over all or part of the company. Credit Suisse. In fact, as the Reuters news agency reported, the two most important banking institutions in the country will meet this weekend to seek the deal, after the Swiss National Bank injected 50,000 million francs to avert a major crisis.
However, the central bank injection failed to stop the falling share priceIt declined after its biggest investor refused to provide it with more capital and its president accepted a client flight in his wealth management business.
The intervention of the Swiss Central Bank may not be enough“It was a necessary step,” he continues, notes Frédérique Carrier, director of investment strategy at RBC Wealth Management. But despite the efforts of both the ECB and the Federal, uncertainty surrounding the global banking sector remains. lost reserve.
In this case, what the central bank wants is to find a simple and fast solution that adds air to the banking system. before the markets open next Monday. Thus, Swiss regulators have informed their US and UK counterparts that this merger is their first option to reduce distrust in Credit Suisse.
If this acquisition is realized, a formation with a business volume of 1.4 trillion Euros will emerge from the sum of both institutions. UBS is valued at $55 billion and Credit Suisse is currently down to $8 billion. The banking entity resulting from the merger will have a similar size to that of Grupo Santander. And in this way he would take the fifth or sixth place in the European rankings.