Question
Who has acquired Switzerland’s Credit Suisse Bank
facing a financial crisis?Solution
Struggling with the financial crisis, Swiss bank Credit Suisse has been bought by UBS Group AG for 3 billion francs ($ 3.3 billion) under an all-stock deal. Credit Suisse was the second largest bank in Switzerland which has been bought by its biggest rival UBS Group AG. The Swiss government is also showing positive initiative to make this deal a success. The government is helping the bank with more than $100 billion in aid and financial backstops.
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