Sun, 2023-03-19 21:02
BERN: UBS has agreed to take over its troubled Swiss rival Credit Suisse after doubling its offer to $2 billion, the Financial Times reported amid urgent talks on Sunday aimed at sparing the embattled bank from a bloodbath when the markets reopen.
The two largest banks in the wealthy Alpine nation famed for its banking prominence have been in negotiations throughout the weekend, with the government, the central bank and financial regulators all involved.
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