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UBS agrees to buy Credit Suisse in shotgun merger
2 years ago
2.92K
UBS will buy rival Swiss bank Credit Suisse for $3.23 billion and assume up to $5.4 billion in losses, in a shotgun merger engineered by Swiss authorities that won applause from other central bankers keen to avoid further market-shaking turmoil. Tamara Lindstrom produced this report.
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