Credit Suisse Crisis

El-Erian Calls Credit Suisse Pushback on UBS Offer Unwise

WATCH: Mohamed El-Erian, Bloomberg Opinion columnist, says of UBS’s deal to purchase Credit Suisse “yeah, it was a bailout,” but, “of the available options, this was the best one that they could have had.” Source: Bloomberg

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By Jill R Shah

March 19, 2023 at 4:19 PM UTC

Updated on

March 19, 2023 at 5:23 PM UTC

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Credit Suisse Group AG is unlikely to get a better offer than the one UBS Group AG has made with the backing of Swiss authorities, said Mohamed El-Erian.

“It would seem to be unwise on the part of Credit Suisse,” El-Erian, chief economic adviser at Allianz SE and a Bloomberg Opinion columnist, tweeted and then deleted Sunday. “The alternatives for dealing with CS would likely be on worse terms.”