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Swiss Competition Commission examining UBS takeover of Credit Suisse

Published 28/08/2023, 11:47
© Reuters. FILE PHOTO: Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland, March 20, 2023. REUTERS/Denis Balibouse/File Photo
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ZURICH (Reuters) -Switzerland's Competition Commission is looking into UBS's takeover of Credit Suisse (SIX:CSGN), the authority said on Monday.

© Reuters. FILE PHOTO: Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland, March 20, 2023. REUTERS/Denis Balibouse/File Photo

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.

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