Image: FABRICE COFFRINI (AFP)
“We confirm that the Swiss Competition Commission is examining the takeover of CS by UBS and will probably send Finma its results by the end of September,” the agency said yesterday. Further information could not be given at the moment.
It is not known whether and, if so, what conditions the Competition Commission of the Financial Market Authority (Finma) will recommend. In March, Finma approved the Swiss government’s emergency takeover of the ailing CS by UBS without a competition law review. At the time, Finma justified this with securing financial stability – CS is one of the systemically important banks.
Source: Nachrichten
