ZURICH: Union Bank of Switzerland (UBS) Group AG agrees to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets.
The Swiss bank is paying its rival three billion francs (US$3.3bil or RM14.8bil) in an all-share deal that includes extensive government guarantees and liquidity provisions.
Already a subscriber? Log in.
Subscribe now and receive free sooka plan for 1 month. T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
