General meetings under high tension for the shareholders of Credit Suisse and UBS
The two big banks hold their annual meetings on Tuesday and Wednesday. Some tricky votes were withdrawn, including the discharge from Credit Suisse officials.
They have been stripped of their right to give their opinion on the merger, but the shareholders of Credit Suisse and UBS will at least be able to express their (bad) mood at the general meetings (GM) scheduled for this week. The acquired bank opens fire this Tuesday at the Hallenstadion, in Zurich, for the first time since the covid. The usually long list of interventions or questions from shareholders is likely to be even longer this time.
Because this meeting promises to be the most stormy of the two, the shareholders of Credit Suisse being the most affected by the rescue. UBS has indeed agreed to buy it for 3 billion francs, less than half of its value on the stock market on the Friday preceding the announcement, in mid-March.
Lire the whole article
