- External consultants are helping UBS create a potential merger deal between the two largest Swiss banks, Credit Suisse and UBS.
- It would be the biggest deal since UBS merged with Basler Bankverein in 1997.
- UBS and Credit Suisse told Business Insider that they don’t comment on “market rumors and speculations.”
- Visit Business Insider’s homepage for more stories.
UBS chairman Axel Weber has brought in external consultants to explore a potential merger with rival investment bank Credit Suisse, according to a Financial Times report.
A Swiss finance blog reported the potential merger – which would create Europe’s largest bank – on Monday. On Tuesday, the FT reported a deal was on the cards, but that no formal discussions have taken place between the two banks.
It would be the biggest deal for UBS since 1997 when