UBS offers up to $1 billion to rescue Credit Suisse, report says
UBS offered to pay up more than $2 billion to rescue its troubled Swiss rival Credit Suisse — after initially offering half that, theSwiss regulators are planning emergency changes to regulations so it can avoid a shareholder vote on the deal to speed up the process before markets open on Monday, per the report.
A deal would mean investors' stakes in the bank are close to worthless. Its two biggest shareholders are the Saudi National Bank and the Qatar Investment Authority, which have a combined stake of 17%.was being considered as the only other option to a takeover by UBS if a deal cannot be agreed by late Sunday night, when Asian markets open. The Swiss finance ministry declined to comment to the outlet.
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