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UBS takeover of Credit Suisse approved by EU merger regulator

( May 25, 2023, 14:00 GMT | Official Statement) -- MLex Summary: The European Commission has approved unconditionally UBS's takeover of Credit Suisse. While it identified overlaps in the companies' activities in wealth and asset management, and investment banking, the EU regulator concluded that UBS would face competition from several major global banks, as well as from specialist providers and strong local players. The commission had already granted the banks a derogation to close before receiving approval, to avert any systemic harm from the collapse of Credit Suisse.The statement follows....

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