by Emma-Victoria Farr and Oliver Hirt
FRANKFURT/ZURICH (Reuters) – UBS is considering several options for Credit Suisse’s domestic business, including selling that division except for its investment banking business, two people with knowledge of the matter told Reuters .
UBS is considering selling Credit Suisse’s Swiss universal bank business through a takeover bid, the sources said.
UBS is, however, focused on finalizing the takeover of Credit Suisse and is not expected to make a final decision on such an offer for several months, another source said.
Neither UBS nor Credit Suisse commented.
UBS agreed in March to buy Credit Suisse for 3 billion Swiss francs as part of a merger led by the authorities of the Confederation, forced to intervene and implement a rescue plan to avoid a crisis of confidence in the financial system.
The future of Credit Suisse’s domestic business is being watched closely, as a merger with UBS would create a dominant position in the Swiss lending market, raising fears of reduced competition.
(Report Emma-Victoria Farr and Oliver Hirt, with contributions from Pablo Mayo Cerqueiro and Andres Gonzales; Camille Raynaud, edited by Jean-Stéphane Brosse)
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