delivery time2023-03-18 16:47
“Both companies plan to hold board meetings over the weekend to discuss acquisition issues”
Credit Suisse bank branch in Bern, Switzerland [로이터 연합뉴스 자료사진. 재판매 및 DB 금지]
(Seoul = Yonhap News) Reporter Lim Hwa-seop = The Financial Times (FT) reported on the 17th that UBS, the largest financial company in Switzerland, is in talks to acquire some or all of Credit Suisse (CS), the second-largest company surrounded by rumors of crisis. .
Accordingly, the FT reported that UBS and CS will each hold a board meeting over the weekend to discuss the issue of UBS’ acquisition of Credit Suisse.
Switzerland’s central bank, the Swiss National Bank (SNB), and its regulator, the Swiss Financial Supervisory Service, are coordinating the deal to boost confidence in the country’s banking sector, according to the FT.
Swiss regulators emphasized to the US and UK on the night of the 17th that the merger of UBS and CS was ‘Plan A’ to prevent the collapse of investor confidence, the FT reported.
Separately, Bloomberg News reported that UBS was looking at acquiring some or all of CS, citing sources familiar with the matter.
The source told Bloomberg that Swiss authorities are pressing UBS to consider various avenues for engaging in the CS crisis, and while reviews are ongoing, it is unclear if they will lead to a specific agreement.
The assets of UBS and CS are 1,440 trillion won and 750 trillion won, respectively.
SNB announced on the 16th that it would lend up to 50 billion Swiss francs (70 trillion won) to CS to help secure liquidity, but it could not prevent CS’s stock price from plummeting.
CS lost about 1 trillion won last year, which more than offset its total profits over the past 10 years. After the FT report came out, CS stock jumped 9% in trading after the close of the market on the 17th.
Archyde.com, citing unnamed sources, said that CS chief financial officer Dixit Joshi and his teams would hold a meeting over the weekend to review CS’s strategic scenario.
However, as of the 17th, it was confirmed that there are at least four major banks that have imposed restrictions on CS-related transactions, including Germany’s Deutsche Bank and French investment bank Societe Generale, indicating that CS is in trouble.
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2023/03/18 16:47 Sent