UBS acquires ailing rival Credit Suisse in emergency rescue deal
UBS acquires ailing rival Credit Suisse in emergency rescue deal
Video Team
Swiss banking giant UBS is acquiring its ailing smaller rival Credit Suisse for 3 billion Swiss francs (3.23 billion dollars) in an emergency rescue deal. The Swiss Federal Council and representatives of the two institutions and the supervisory authorities made the announcement of the government-brokered takeover on Sunday evening.
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