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the financial times is reporting that the swiss bank ubs has offered to buy its rival, credit suisse, for more than $2 billion. the swiss government is due to hold a press conference in about half an hour s time in bern. credit suisse had been caught up in the market uncertainty triggered by the collapse, nine days ago, of america s silicon valley bank. it had been offered an emergency credit facility of more than $50 billion by switzerland s central bank, but that had not prevented a sharp fall in its share price. let s get more on this with our business correspondent, marc ashdown. mark, what you make of the announcement, the possible announcement? the possibility that ubs might be buying? fix, announcement? the possibility that ubs might be buying? announcement? the possibility that ubs might be buying? a deal has been aareed u- ubs might be buying? a deal has been agreed up and ubs might be buying? a deal has been agreed up and it ubs might be buying? a deal h ....
that the country s biggest bank, ubs, has taken over its troubled rival credit suisse in an emergency measure designed to protect the swiss economy. credit suisse has seen its value plummet over the last week due to fears about the company s financial health. regulators in switzerland had spent the day trying to pave the way for a deal to be struck before the financial markets open tomorrow. here s the swiss president alain berset speaking at a press conference a short time ago. on friday, the liquidity showed that it was no longer possible to restore the necessary confidence, and the swift and stabilising solution was absolutely necessary. this solution is the takeover of credit suisse by ubs. it is supported by the federal council following several meetings with the swiss national bank, with a regulator, credit suisse and by ubs. the federal council has every confidence that in this difficult situation, the takeover of credit suisse ubs is to restore the confidenc ....
the government of switzerland says that the country s biggest bank, ubs, has taken over its troubled rival credit suisse in an emergency measure designed to protect the swiss economy. credit suisse has seen its value plummet over the last week due to fears about the company s financial health. regulators in switzerland had spent the day trying to pave the way for a deal to be struck before the financial markets open tomorrow. here s the swiss president alain berset speaking at a press conference earlier. on friday, the liquidity outflows and market volatility showed that it was no longer possible to restore the necessary confidence, and that a swift and stabilising solution was absolutely necessary. this solution is the takeover of credit suisse by ubs. it is supported by the federal council following several meetings with the swiss national bank, with our regulator, with credit suisse and ubs. the federal council welcomes the takeover and is supporting it by guaran ....
Indemnities like because ubs is taking on a troubled bank with legal issues, will ubs be protected from that? there are lots of short term issues. the long term issue is what does ubs do with the different parts of the banks where there is a lot of parallels with what it does and overlaps. this is not going to be an easy thing to digest. this is a big bite and ubs will need time to digest it. bite and ubs will need time to dicest it. ~ ., , bite and ubs will need time to dicestit.~ . , bite and ubs will need time to dicest it. ~ . , , digest it. what is in the sport ubs? wh would digest it. what is in the sport ubs? why would they digest it. what is in the sport ubs? why would they want digest it. what is in the sport ubs? why would they want to digest it. what is in the sport ubs? why would they want to take - digest it. what is in the sport ubs? why would they want to take over l digest it. what is in the sport ubs? why would they want to take over a troubled bank with legal ....
Bad. that s the first element. why is it the least bad? because - is it the least bad? because the other two were is it the least bad? because the other two were either is it the least bad? because the other two were either a - other two were either a nationalisation of credit suisse and the assumption by the swiss government of alternatives. splitting shutting down credit suisse, which is very difficult. so, among the three possible options, this is the least bad. haifa among the three possible options, this is the least bad. this is the least bad. how difficult will it be for this is the least bad. how difficult will it be for credit this is the least bad. how difficult will it be for credit suisse - this is the least bad. how difficult will it be for credit suisse ubs| will it be for credit suisse ubs to take over credit suisse? these are two huge banks. what s going to go into this kind of merger? it’s a go into this kind of merger? it s a short-term go into t ....