Swiss officials say they need to double-check the paperwork as their country’s biggest bank attempts a takeover of its struggling rival.
Switzerland has opened an investigation into the takeover of the beleaguered Credit Suisse bank by its rival UBS Group, authorities announced Sunday.The nation’s Federal Prosecutor said in a statement that the office is looking into whether executives at either Credit Suisse and UBS committed crimes, but didn’t elaborate about the direction of the investigation.The central bank said that if the investigation turned up any serious irregularities, investors’ deposits would be guaranteed.
