Bloomberg: Nationalize Credit Suisse If Deal With UBS Fails
Switzerland is considering full or partial nationalization of beleaguered Credit Suisse. That would be the only other viable option, apart from the Swiss bank UBS acquisition, insiders report to the Bloomberg news agency.
UBS is in talks with Credit Suisse this weekend about a full or partial takeover. With this merger, the Swiss authorities want to restore confidence in the Swiss banking sector.
According to the British business newspaper Financial Times, UBS would have a maximum of 1 billion dollars (more than 930 million euros) for the acquisition.
However, Credit Suisse believes the offer is far too low, and sources told Bloomberg.