#UBS may back out of Credit Suisse deal.
They have too much toxic short positions would be my guess…
Things gonna get spicy real fast pic.twitter.com/Tvjk04pC9N
— Jack Straw (@JackStr42679640) March 22, 2023
via Reuters:
UBS is set to enter talks with Michael Klein to terminate a deal that would have seen the Wall Street dealmaker take control of much of Credit Suisse’s investment bank, the Financial Times reported on Tuesday.
UBS on Sunday agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking.
'I think it‘s a steal!' @andrewrsorkin on UBS/ Credit Suisse deal.
There will be lawsuits.
– perfect for this year elections in Switzerland. pic.twitter.com/mdc5ZXluth
— Russian Market (@runews) March 22, 2023
The Swiss government had no financial advisors during the UBS/CS deal, Swiss media this morning.
… in the end the Swiss Parliament and the Antitrust authority will block the UBS-CS deal.
It‘s not over for Credit Suisse shareholders.
— Russian Market (@runews) March 22, 2023
UBS Credit Default Swaps spiking- the $CS hot potato is just switching hands… pic.twitter.com/p5J8pMz4T7
— Roberto Rios (@peruvian_bull) March 20, 2023
h/t jlee2027
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