UBS Mulls Swapping Credit Suisse's China Stake in Beijing Government Deal, Bloomberg Reports
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Dow Jones
--UBS is in talks to fully acquire its China platform by exchanging its holding in Credit Suisse's onshore securities venture arm with a Beijing government investment fund, Bloomberg reports, citing unnamed sources.
--UBS is suggesting purchasing the remaining 33% stake in its joint venture UBS Securities Co. from Beijing State-Owned Assets Management Co. and selling part of or its entire 51% position in Credit Suisse Securities (China) Limited as part of the deal, according to Bloomberg.
--UBS declined to comment when contacted by Dow Jones Newswires.
Full story: https://bloom.bg/4cR4fYw
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
April 09, 2024 03:25 ET (07:25 GMT)
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