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UBS seeks India merger clearance, citing Credit Suisse's financial difficulties

By Freny Patel ( April 27, 2023, 03:03 GMT | Insight) -- Swiss investment bank UBS has sought merger clearance in India for its rescue of the 167-year-old Credit Suisse, with the lender’s application hinting at a failing-firm defense for the deal. In a merger application filed with the Competition Commission of India earlier this week, the financial institutions stated that the proposed transaction had been "necessitated due to Credit Suisse’s financial difficulties."Swiss investment bank UBS has sought merger clearance in India for its rescue of the 167-year-old Credit Suisse, with the lender’s application hinting at a failing-firm defense for the deal....

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