Question
Who has acquired Switzerland’ s Credit Suisse Bank
facing a financial crisis?Solution
Swiss bank Credit Suisse has been bought by UBS Group AG for 3 billion francs ( $ 3. 3 billion) under an all- stock deal after it faced major financial setbacks. Credit Suisse was the 2nd largest bank in Switzerland which has been bought by its biggest rival UBS Group AG. The Swiss government has shown positive initiative to make this deal a success. The government has provided $100 billion in financial backstops to help the bank.
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‘ RESPONSIBLE ’
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