Swiss Prosecutors Investigate UBS Takeover of Credit Suisse and Credit Suisse Boardroom Shake-Up
TL;DR Summary
Swiss prosecutors have launched an investigation into possible illegal activity related to the government-supported takeover of Credit Suisse by UBS. The deal was part of an emergency agreement to avoid a national financial crisis. The prosecutor's statement said the probe aimed to "analyze and identify any criminal offenses" associated with the merger. The deal has been unpopular locally, and the new entity could reportedly cut jobs by up to 30%.
- Swiss prosecutors open probe into UBS takeover of Credit Suisse POLITICO Europe
- Swiss prosecutor opens probe into Credit Suisse takeover Financial Times
- Norwegian wealth fund seeks Credit Suisse boardroom shake-up Reuters
- Swiss Prosecutors Probe State-Backed Credit Suisse Takeover by UBS The Wall Street Journal
- Credit Suisse braced for backlash over UBS rescue at shareholder meeting Financial Times
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