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UBS to Explore Credit Suisse Deal in Crisis Combination

  • Potential deal may involve UBS buying whole or parts of rival
  • Both firms’ boards are expected to meet this weekend, FT says
Office workers outside the Credit Suisse Group office tower in Zurich, Switzerland, on Thursday.

Office workers outside the Credit Suisse Group office tower in Zurich, Switzerland, on Thursday.

Photographer: Francesca Volpi/Bloomberg
Updated on

UBS Group AG is exploring an acquisition of all or parts of Credit Suisse Group AG at the urging of Swiss regulators after its smaller rival was pummeled by a crisis of confidence, according to people with knowledge of the matter. 

Swiss officials are pushing UBS to look at various ways it could be involved with a solution for Credit Suisse, the people said, asking not to be identified describing private discussions. The deliberations are ongoing and it’s unclear whether any deal will result, the people said.