UBS reaches agreement to buy Credit Suisse, says international press

The Swiss bank UBS will buy Credit Suisse for more than 2,000 million dollars (about 1,870 million euros), after intense negotiations, indicated this Sunday the Financial Times and the Bloomberg agency.

The negotiations that took place over the weekend involved the two banks, the government, the central bank and the regulatory authority.

As part of the agreement, the parties agreed on a modification of the legislation to prevent this purchase decision from being submitted to a vote by UBS shareholders, according to a source at the newspaper, quoted by the EFE agency.