UBS will take over its smaller rival Credit Suisse, the Swiss central bank has confirmed in an effort to avoid further market-shaking turmoil.
The Financial Times reported on Sunday that UBS offered to pay $2bn (£1.2bn) for the embattled bank.
UBS will take over its smaller rival Credit Suisse, the Swiss central bank has confirmed in an effort to avoid further market-shaking turmoil.
The Financial Times reported on Sunday that UBS offered to pay $2bn (£1.2bn) for the embattled bank.