MOSCOW, Mar 19 UBS, the largest Swiss bank, has agreed to acquire Credit Suisse for more than $2 billion, reports the Financial Times.
«UBS has agreed to acquire Credit Suisse after it increased the offer to over $2 billion,» the publication said.
Earlier, the Financial Times, citing sources, reported that the largest Swiss bank UBS is discussing the acquisition of Credit Suisse. According to her, behind the organization of the negotiations are the Swiss National Bank and the financial regulator FINMA, who are trying to strengthen confidence in the country's banking sector. It was also noted that UBS offered to acquire Credit Suisse for $1 billion.
It is noted that the agreement between financial organizations should be on March 19. According to the newspaper, the Swiss National Bank also offered UBS about 100 billion in liquidity so that it could take over the operations of Credit Suisse.
On Wednesday, the value of Credit Suisse shares fell by a quarter on the stock exchange. Earlier, financial commentator Robert Kiyosaki (he accurately predicted the collapse of the American banking giant Lehman Brothers in 2008) said that the next bank that could fail after the bankruptcy of the American Silicon Valley Bank (SVB) would be Credit Suisse. The bank, in turn, stated that it would borrow up to 50 billion Swiss francs (about $53.7 billion) from the Central Bank.