Le Temps celebrates its 25th anniversary
On the occasion of this anniversary, the editorial staff gives you access to all of its articles and content online.
For 48 hours, consult free and exceptional news and key surveys from Le Temps!
Do you like our items? Take advantage of our special 25th anniversary offer
According to the British business daily Financial Times, the American BlackRock, the world’s leading asset manager (8.6 billion dollars in assets under management), is also in line to take over the bank in difficulty. An offer which would therefore compete with the merger project between UBS and Credit Suisse mentioned on the night of Friday to Saturday by the same media. This last scenario would be preferred by the Swiss National Bank (SNB) and Finma, the Swiss banking authority, to outline a rapid exit from the crisis. Contacted, the investment fund denies the information: “BlackRock is not involved in any project to acquire all or part of Credit Suisse and has no interest in doing so,” said a spokesperson.
Read also: UBS is in talks to buy Credit Suisse
Citing anonymous sources familiar with the matter, the British daily indicates that the investment fund might opt for a partial acquisition of the activities of the bank with two veils. Before running BlackRock, his boss Larry Fink worked at First Boston. This New York banking establishment was bought in 1988 by Credit Suisse and has since become its investment bank. As part of its restructuring announced last fall, the Swiss bank is, however, in the process of withdrawing from it. If the BlackRock and UBS offers were to materialize, however, they might face obstacles linked to competition rules in the United States and Europe.
Development follows.
