UBS wants to acquire Credit Suisse and take advantage of the market close

UBS is in talks to buy Credit Suisse. With the markets closed, the two institutions are looking for a way to solve the recent problems and believe that this could be the ideal time, due to the decrease in the capitalization of that banking institution. The operation could be carried out in an accelerated manner, following the scenario of sudden falls by the bank in recent days, which left it valued at US$8 billion.

The news is being advanced by the British daily “Financial Times”, which refers that partial and total purchase options are on the table. UBS’s objective with this operation is to end the climate of distrust and doubt surrounding the bank.

This same Friday, UBS and Credit Suisse left the guarantee that forced merger would not be an option, despite markets fearing that the liquidity capacity of the Swiss National Bank (SNB) would not be sufficient to safeguard Credit Suisse. Added to this is the indication that, despite the situation being highly uncertain, the Saudis will not provide capital.

Remember that, on Thursday, DBRS Morningstar downloaded the rating Long Term Issuer relative to Credit Suisse from A (low) to “BBB” (the last grade before trash), in addition to maintaining perspective (outlook) in negative terrain.

News updated at 22:35