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Credit Suisse CEO Dismisses ‘Stupid’ Question on Deal Rumors

  • Gottstein wont comment on reported interest from State Street
  • CEO says M&A advisory doing better, but equities ‘bleeding’
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State Street Offers No Comment on Credit Suisse Report
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Credit Suisse Group AG Chief Executive Officer Thomas Gottstein batted away questions on whether the bank is a takeover target and said he’s still holding out hope for a profitable second quarter.

Swiss blog Inside Paradeplatz on Wednesday caused a firestorm after it reported that State Street could make a bid for Credit Suisse at 9 francs a share, citing a single person. Shares of the US firm dropped 5.4% to close at $69.04 on the day, while the Swiss bank declined as much as 4.9% on Thursday.