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| UBS Unwilling to Acquire Credit Suisse Amid Financial Crisis |
Credit Suisse, which has been in the spotlight of bankruptcy concerns due to the ongoing financial crisis, is unlikely to be acquired by UBS as the latter seems to be unwilling to take on the bank's existing risks.
According to Bloomberg News, UBS, headquartered in Switzerland, is hesitant to acquire Credit Suisse. Recently, Credit Suisse has been the subject of bankruptcy fears, and to confirm these concerns, the bank received a $54 billion support from the Swiss National Bank.
Sources close to the matter told Bloomberg that UBS is uninterested in acquiring the bank, as Credit Suisse is unwilling to take on its current risks. Wall Street bank JPMorgan stated that Credit Suisse being acquired by another bank, most likely UBS, is the most probable scenario for the struggling bank.
