The Swiss authorities and UBS Group AG are racing to close the takeover of Credit Suisse Group AG within as little as a month, according to two sources with knowledge of the plans, to try to retain the lender's clients and employees.
But combining Credit Suisse into UBS could take much longer, potentially months, because the deal needs approval from regulators in tens of countries, the people said, seeking anonymity given the sensitivity of the matter."UBS has made a full commitment to the takeover of Credit Suisse...
Asked for more precise details on when the deal could close at the same media conference, the vice chairman declined to comment. The longer the deal takes to close, the harder it will be for Credit Suisse to hold on to its business as the uncertainty erodes confidence in the lender.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
UBS set for talks with Michael Klein to terminate Credit Suisse investment bank deal - FTUBS is set to enter talks with Michael Klein to terminate a deal that would have seen the Wall Street dealmaker take control of much of Credit Suisse's investment bank, the Financial Times reported on Tuesday.
Consulte Mais informação »
UBS and Credit Suisse's wealth business merger will be awkwardUBS will become a Swiss wealth behemoth after buying Credit Suisse, but blending the two rivals could get awkward and messy
Consulte Mais informação »
UBS likely to shrink Credit Suisse's $10 bln shipping portfolio -WSJUBS Group AG will likely shrink Credit Suisse Group's $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday, the Wall Street Journal reported on Wednesday.
Consulte Mais informação »
Switzerland curbs bonus payouts at Credit SuisseSwiss authorities imposed curbs on bonus payments for Credit Suisse employees, a move that will penalise bankers after a multi-billion-franc state rescue of the bank.
Consulte Mais informação »
Hedge fund boss Jeff Gundlach shreds Credit Suisse creditors: ‘Put on your big boy pants’Gundlach said disgruntled Credit Suisse bondholders should ‘look in the mirror.’
Consulte Mais informação »
Swiss government says it will limit bonuses at Credit SuisseThe Swiss government on Tuesday said it would restrict bonuses at Credit Suisse after the bank agreed to be taken over at a steep discount by UBS.
Consulte Mais informação »