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Swiss prosecutors investigate UBS’s Credit Suisse takeover

Federal prosecutor says it is looking to see if there were breaches of criminal law in the hastily arranged deal

Switzerland’s prosecutors are probing the government-orchestrated takeover of Credit Suisse by rival UBS.

The federal prosecutor has reached out to national and local authorities and “issued investigation orders” to analyse and identify if any criminal offences took place under the deal, which also involved the government, the financial regulator, Finma, and Switzerland’s central bank, a spokeswoman said in a statement.

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