UBS’s takeover of Credit Suisse should “calm jitters”, according to CommSec’s Ryan Felsman.
“Over the course of the weekend, what we have seen is an up to $3 billion deal for Switzerland’s largest bank UBS to takeover Switzerland’s second largest bank Credit Suisse,” he told Sky News Australia.
“That deal is an all-shared deal at 0.5 Swiss Francs, and that’s a lot lower than Credit Suisse’s share price on Friday.”
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