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Credit Suisse offers big blocks of Discovery, iQIYI shares related to Archegos: sources


Credit Suisse offers big blocks of Discovery, iQIYI shares related to Archegos: sources
FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in Zurich
(Reuters) – Credit Suisse put large blocks of shares in media company Discovery Inc and iQIYI Inc on the market after regular trading ended on Tuesday, multiple sources said, as the bank continued unwinding positions related to last month’s meltdown of Archegos Capital.
Credit Suisse has not yet finished unwinding its Archegos positions, said one source familiar with the matter. The bank has taken a $4.7 billion hit from dealings with Archegos Capital, prompting it to overhaul the leadership of its investment bank and risk divisions. ....

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