UBS buys Credit Suisse for 0.76 Swiss francs per share, or 3 billion Swiss francs.
This is what we read in a note.
"The integration" between Credit Suisse and UBS "strengthens Switzerland as a global financial center," says UBS chairman Colm Kelleher.
"This is not a bailout but a commercial solution", say the Swiss authorities commenting on the wedding between Credit Suisse and UBS.
ANSA agency
Ubs, a 60 billion Swiss franc giant - Economy
Ubs, the Swiss giant with a capitalization of 60 billion Swiss francs, is the eternal rival Credit Suisse.
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