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Rolf Watter

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ubs orchestrates at1 bond wipeout in credit suisse takeover strategy

UBS played a pivotal role in the controversial write-off of $17 billion in Credit Suisse's AT1 bonds during its takeover negotiations, a move that significantly benefited UBS financially. Despite claims of ignorance from UBS Chairman Colm Kelleher, investigations reveal that UBS initiated the discussion on the bond wipe-out, which was crucial for the merger's success. This decision has led to global lawsuits from investors and potential financial repercussions for Swiss taxpayers.
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United States Dollar FinMan Gestion", CS. Barthoulot-Coaching SNC USA CHE Karin Keller-Sutter Colm Kelleher Rolf Watter Thomas Jordan Dirk Schütze Daniela Stoffel Show more
Finance & Economy, Transcript
07:58 21.12.2024

ubs orchestrates at1 bond wipeout to secure cs takeover and massive profits

UBS's recent discussions revealed a pivotal strategy involving the write-off of $17 billion in Credit Suisse's AT1 bonds, a move that significantly influenced the merger's terms. This decision, initially kept secret, allowed UBS to secure extraordinary profits, contributing nearly $30 billion in 2023. The PUK report highlights that UBS's demands were crucial for the takeover's success, overshadowing the purchase price negotiations.
insideparadeplatz.ch
United States Dollar CS. Barthoulot-Coaching SNC CHE Colm Kelleher Dirk Schütze Matthew Jordan Karin Keller-Sutter Rolf Watter Show more
Finance & Economy, Market Report
07:58 21.12.2024
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