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Swiss Competition Commission Probes UBS’s Acquisition of Credit Suisse

 |  August 28, 2023

Switzerland’s Competition Commission has initiated an investigation into UBS’s acquisition of Credit Suisse, as stated by the authority on Monday.

Back in March, Switzerland’s government, central bank, and financial regulator expedited a rescue agreement for Credit Suisse, culminating in the amalgamation of the nation’s two biggest banking entities.

Read more: UBS To Cut Half Of Credit Suisse Jobs Post Buyout

The Commission’s vice-director informed Reuters, “We affirm that the Swiss Competition Commission is meticulously scrutinizing the UBS takeover of Credit Suisse. Subsequently, the findings will likely be conveyed to FINMA by the conclusion of September.”

This careful assessment underscores Switzerland’s commitment to maintaining a fair and competitive financial landscape through a thorough evaluation of significant industry developments.

Source: Reuters