Market reacts sharply to UBS’ takeover of Credit Suisse
UBS has agreed to purchase Credit Suisse for $US3.2 billion following the bank’s plummeting share prices. The deal was finalised overnight, and analysts were expecting a fall of 1.3 per cent, but the ASX now shows a drop of 0.8…
UBS has agreed to purchase Credit Suisse for $US3.2 billion following the bank’s plummeting share prices.
The deal was finalised overnight, and analysts were expecting a fall of 1.3 per cent, but the ASX now shows a drop of 0.8 per cent which will most likely continue to fall throughout the day.
“They’re almost too big to fail – they can’t really go under because if they did go under, there would be serious implications for global financial markets,” Sky News Business Reporter Edward Boyd said.
