UBS agrees to buy Credit Suisse for more than $3bn to calm Global Markets

UBS agrees to buy Credit Suisse

UBS 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.

Credit France 24