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UBS's takeover of Credit Suisse failed to reassure markets

Summary by Ground News
UBS shares plunged 62% during pre-market trading today (Mar. 20), and its rival-turned-rescuer saw shares dip over 7%. The Swiss Federal Council is issuing an emergency ordinance (Notverordnung) The merger will be implemented without the otherwise necessary shareholder approval from both banks.

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Quartz broke the news in United States on Monday, March 20, 2023.
Sources are mostly out of (0)