UBS - UBS Edges Towards Settlement For Mozambique Debt Scandal With $100M Deal | Benzinga
UBS Group AG (NYSE: UBS) is discussing with the Mozambican government to potentially forgive up to $100 million in debt, forming part of a resolution related to Credit Suisse's involvement in a financing scandal within the African nation.
Negotiations are still ongoing, with the out-of-court settlement terms being fine-tuned.
However, it's expected that Mozambique's attorney general could officially announce the settlement as early as next week, Bloomberg reported.