Blackrock not working on rival bid for Credit Suisse
The Financial Times reported that the US company was considering various options and working with other investors on a potential deal. This came after the Swiss company entered talks on a possible merger with UBS Group AG. The newspaper quoted people knowledgeable about the subject which it did not identify.
BlackRock has denied working on a possible competing bid for Credit Suisse Group AG, after the Financial Times reported it was interested in a deal. “BlackRock is not involved in any plan to acquire all or part of Credit Suisse, and has no interest in doing so,” according to a spokesperson for the American investment giant.
The Financial Times reported that the US company was considering various options and working with other investors on a potential deal. This came after the Swiss company entered talks on a possible merger with UBS Group AG. The newspaper quoted people knowledgeable about the subject which it did not identify.
The boards of Switzerland’s two biggest banks plan to meet separately this weekend to weigh the idea of a merger, with talks orchestrated by the Swiss National Bank and regulator Finma, the Financial Times reported on Friday. .
(Edited by : Asmita pants)
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