GENEVA, April 2 — Switzerland’s Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said today.
“The Office of the Attorney General wants to proactively fulfil its mandate and responsibility to contribute to a clean Swiss financial centre and has set up a monitoring system so that it can take action immediately on any issues that fall within its area of responsibility,” it added. In the deal announced on March 19 and orchestrated by the Swiss government, the central bank and market regulator, UBS would acquire rival Credit Suisse for 3 billion Swiss francs . The bank is trying to close the deal by as soon as the end of April, sources have told Reuters.
Source: Loan Digest (loandigest.net)
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