Credit Suisse Shareholder Stopped By FINMA For Increasing Stake: Report
Portfolio Pulse from Lekha Gupta
Saudi National Bank's plan to increase its stake in UBS Group's Credit Suisse from 9.88% to 40% has been halted by Swiss regulator FINMA. The reason for the rejection is not clear. Last month, UBS closed the acquisition of Credit Suisse.
July 10, 2023 | 9:36 am
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UBS Group's Credit Suisse stake increase plan by Saudi National Bank has been halted by FINMA. This could potentially affect UBS's future plans with Credit Suisse.
The halt of Saudi National Bank's plan to increase its stake in Credit Suisse could potentially affect UBS's future plans with Credit Suisse. However, the impact on UBS's stock price is uncertain as the reason for the rejection is not clear.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100