BREAKING: Banking giant UBS has agreed to buy its struggling smaller rival Credit Suisse, in a move aimed at easing fears of a global financial crisis. 9News
giant UBS has agreed to buy its struggling smaller rival Credit Suisse, in a move aimed at easing fears of a global financial crisis.
UBS is believed to be buying the bank for about $3 billion, but just 38 hours ago, Credit Suisse was valued at $10 billion.The Swiss government will try to bypass laws that would see the deal go to a shareholder vote, hoping to avoid a knock-on effect when the stock market opens in the US and Europe in about 24 hours.
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