UBS and Credit Suisse: similar Swiss banks with differing fortunes

UBS and Credit Suisse, the two biggest banks in Switzerland, are in takeover talks, according to several media — a move long deemed unthinkable as the pair are so similar.

The negotiations, which would see UBS take over its embattled smaller domestic rival, are being orchestrated by the Swiss regulators in an attempt to reassure the markets before they re-open on Monday.

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