UBS in talks for Credit Suisse takeover as BlackRock denies involvement
TL;DR Summary
Talks between Credit Suisse and UBS continue as UBS seeks $6 billion from the Swiss government to cover costs if it were to buy its struggling rival. The guarantees UBS is seeking would cover the cost of winding down parts of Credit Suisse and potential litigation charges. While regulators want a resolution before markets reopen on Monday, one source cautioned the talks are encountering significant obstacles, and 10,000 jobs may have to be cut if the two banks combine.
- Crunch time for Credit Suisse talks as UBS seeks Swiss assurances CNBC
- The fate of Credit Suisse could be decided in the next 24 hours CNN
- Credit Suisse bank: UBS is in talks to take over its troubled rival BBC
- BlackRock denies report that it's preparing a takeover bid for Credit Suisse CNBC
- BlackRock says not participating in any plans to acquire Credit Suisse Indiatimes.com
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