GENEVA: The UBS chairman voiced confidence on Wednesday that the Swiss bank will succeed in a government-engineered takeover of hobbled rival Credit Suisse, pledging the deal will reduce costs, benefit shareholders and buttress Swiss finance despite "huge" risks in knitting the global lenders together.
Speaking to UBS shareholders, Colm Kelleher gave an overview of the 3 billion Swiss franc ($3.25 billion) takeover that he said would close in the next few months, alluding to the complexity of the first-ever merger of two "global systemically important banks."
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.