Panel Probes UBS Takeover Of Credit Suisse

Switzerland's Competition Commission is looking into UBS's takeover of Credit Suisse, the authority said, Noelle Illien reported for Reuters.

In March, the Swiss government, central bank, and financial regulator rushed through a rescue deal for Credit Suisse, resulting in the country's two largest banks merging. I Photo: Urbanrenewal Wikimedia Commons

In March, the Swiss government, central bank, and financial regulator rushed through a rescue deal for Credit Suisse, resulting in the country's two largest banks merging.

"We confirm that the Swiss Competition Commission is looking at the takeover of CS by UBS and will send FINMA her results probably by the end of September," the Commission's vice-director told Reuters.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic