UBS to take over Credit Suisse – central bank

Published by
Reuters

BERN (Reuters) – UBS will take over Credit Suisse, Swiss authorities said on Sunday, to help rescue the embattled lender. “With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation,” the Swiss central bank and other authorities said. (Reporting by John Revill, Noele Illien, John O’Donnell, Oliver Hirt and Tom Sims; Editing by Riham Alkousaa and Paul Carrel)

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