UBS Races To Seal Credit Suisse Deal As Soon As Late April, Sources Say

(MENAFN- Trend News Agency) The Swiss authorities and UBS Group AG are racing to close the takeover of Credit Suisse Group AG within as little as a month, according to two sources with knowledge of the plans, to try to retain the lender's clients and employees, trend reports citing reuters .

But combining Credit Suisse into UBS could take much longer, potentially months, because the deal needs approval from regulators in tens of countries, the people said, seeking anonymity given the sensitivity of the matter.

Spokespeople for UBS and Credit Suisse declined to comment.

"UBS has made a full commitment to the takeover of Credit Suisse... Now it is extremely important that both parties do everything possible that the takeover will be successful," Thomas Jordan, Swiss National Bank Chairman said on Thursday, adding the next two weeks would be crucial.


Trend News Agency

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