UBS - UBS Navigates Complex Regulatory Terrain in Bid for Full Control of China Platform (Updated) | Benzinga
Editor’s Note: The story has been updated to correct Citadel CEO name
UBS Group AG (NYSE:UBS) is reportedly in discussions to attain full ownership of its China platform through a strategic swap involving its stake in Credit Suisse’s onshore securities venture.
The Zurich-based lender is reportedly eyeing the 33% stake held by Beijing State-Owned Assets Management Co. in their joint venture UBS Securities Co., in exchange for selling part or all of its 51% stake in Credit Suisse Securities (China) to a Beijing government investment fund.
This development adds a new dimension to the ongoing bidding war for Credit Suisse’s investment bank in China. Notable players such as Ant Group Co., backed ...