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In the “open letter from UBS” the major bank speaks of “the beginning of a new chapter for UBS, the Swiss financial center and the global financial industry”. “They will bring together wealth management expertise, size and leadership to create an even stronger partner company”. A system that will benefit customers in Switzerland and beyond. The aim is to provide “stable conditions”.
The bank also makes a commitment: “We focus on our customers – private individuals, entrepreneurs, companies – and help them protect their assets, develop and achieve their goals.” We will continue to rely on our “strong UBS corporate culture, conservative risk approach and high quality of service” and will not make any concessions.
“Successful Takeover”
The letter states that the bank “has no doubts that we will successfully complete this acquisition”.
A week ago today, UBS announced that it plans to complete the acquisition this Monday. Last Friday, UBS and the federal government signed the required agreement on loss guarantees from the CS acquisition. Today will also likely be the last trading day for CS shares on the SIX Swiss Exchange. (pbe/SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
