Zurich, Frankfurt The struggle for the future of Credit Suisse is over: Rival UBS is buying the second largest Swiss bank for around CHF 2 billion, or around CHF 0.50 per share. Financial circles confirmed a corresponding report by the “Financial Times” to the Handelsblatt on Sunday evening. The Swiss National Bank will support the takeover with extensive liquidity support, it announced on Sunday evening.
The top management of both banks had previously negotiated intensively with representatives of the Swiss National Bank, the financial regulator Finma and the federal government to rescue the crisis-ridden bank. Initially, UBS only agreed to pay a billion dollars for Credit Suisse.
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