SBCW and UBS in talks to create banking giant

05 Dec 1997

THE LONG AWAITED shake up in Swiss banking may begin as early as today (Friday) with SBC Warburg Dillon Read and UBS poised to announce an agreement that could extend to a full blooded merger.

The banks refused to comment last night. But their soaring share prices indicated the widespread belief that, after months of speculation, fundamental change was finally on the way. Since Credit Suisse First Boston made an ultimately fruitless play for UBS in 1996, the three large Swiss banks ...

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