UBS Starts Talks to Unwind CS First Boston Spinoff, the FT Reports
March 22 2023 - 03:08AM
Dow Jones News
--Swiss lender UBS Group AG is looking to unwind a deal to sell
off Credit Suisse Group AG's investment bank and has entered talks
with dealmaker Michael Klein, the Financial Times reports, citing
unnamed sources.
--Troubled Credit Suisse last year negotiated a deal to separate
investment unit CS First Boston, with Mr. Klein's advisory boutique
to be folded in and he to be made chief executive. But UBS
executives view that deal as overly favorable to Mr. Klein, and see
some value in keeping parts of Credit Suisse's investment-banking
operations after it agreed a takeover of its rival last weekend,
the FT reports.
Full story: https://on.ft.com/3Z7kgRN
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
March 22, 2023 02:53 ET (06:53 GMT)
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