Credit Suisse, UBS shares fall after rescue deal
Geneva, March 20 Shares of Credit Suisse plunged 63 per cent in early trading Monday after the announcement that banking giant UBS would buy its troubled rival for almost USD 3.25 billion in a deal orchestrated by regulators to stave...
Updated At : 01:24 PM Mar 21, 2023 IST
Advertisement
Geneva, March 20
Advertisement![]()
Shares of Credit Suisse plunged 63 per cent in early trading Monday after the announcement that banking giant UBS would buy its troubled rival for almost USD 3.25 billion in a deal orchestrated by regulators to stave off further market-shaking turmoil in the global banking system.
UBS shares were down 14 per cent in early trading on the Swiss stock exchange. Swiss authorities urged UBS to take over its rival after a plan for Credit Suisse to borrow up to 50 billion francs failed to reassure investors and the bank’s customers. — AP
Advertisement
×
Unlock Exclusive Insights with The Tribune Premium
Take your experience further with Premium access.
Thought-provoking Opinions, Expert Analysis, In-depth Insights and other Member Only Benefits
Yearly
Monthly
Already a Member? Sign In Now
Advertisement
Advertisement
Advertisement
Copyright © The Tribune Trust, 2024
Designed and developed by : 
