This is what the final deal looks like: UBS to buy Credit Suisse for CHF0.76 per share, or CHF3bn. Credit Suisse holders will get 1 UBS share for every 22.48 shares. UBS says Ralph Hampers will be CEO of combined bank. Complete write-down of nominal value of all AT1 shares of CS.
@Schuldensuehner Once a Swiss bank was a Swiss knife or a Swiss watch, but today it is Swiss cheese and not even chocolate ...
@Schuldensuehner Bold move but fully legal. Buyers of Credit Suisse AT1 did it at their own risk and peril. It was clearly written in the prospectus. Much different situation of some infamous past writeoff like SNS Reaal, still waiting for compensation after unlawful state confiscation.
@Schuldensuehner Wow AT1 worth zero but equities > 0.... a joke
@Schuldensuehner Kapitalismus ist nur noch Wort. 😳Die Aktionäre von CS und UBD haben kein Stimmrecht.
@Schuldensuehner @jens_140081 Die (Groß)Aktionäre beider Banken hatte wohl nichts mitzureden? Das Schweizer Image ist dann wohl erstmal dahin. Der UBS kann man aber nur gratulieren. Ein Wahnsinns Deal inkl. einer 9 Mrd Bad Bank for free.
@Schuldensuehner It’s time for crypto to take over the fiscals. It WILL happen.