Deutsche Bank joins the list of financial entities that are considering acquiring part of Credit Suisse’s assets. According to Bloomberg, the German bank would be analyzing the possibility of acquiring some businesses of the Swiss entity in the event that these were put up for sale as part of a restructuring process.
Knowledgeable sources have told the news agency that Deutsche Bank is analyzing which specific parts of Credit Suisse’s activities would be attractive for your business and what valuation you would place on these assets if they were available for purchase.
The same sources have stressed that the deliberations that are currently taking place within Deutsche Bank are, for the moment, internal and No purchase proposal has yet been transferred to the management of Credit Suisse.
(UBS demands guarantees from the Swiss Government to close the Credit Suisse bailout)
They have also added that this analysis of the assets of the Swiss entity is part of a broader exercise of evaluation of the possible consequences of a hypothetical bankruptcy from Credit Suisse. Deutsche Bank has declined to comment on these reports.
According to Bloomberg, The Credit Suisse assets that could be of most interest to the German bank are its wealth and asset management businesses, given the interest that Deutsche Bank currently has in growing in both areas. In fact, the agency points out that this option was already explored when Credit Suisse began to design a new strategy in October.
Sale to UBS
Despite all the rumors that have occurred in recent hours about a possible sale of Credit Suisse, including a possible offer from BlackRock that was later denied, the only plausible option is that UBS finally launches a takeover offeras the Swiss authorities want.
The deal is not going to be easy, as Credit Suisse wants to prioritize its own roadmap and stand alone. The same is true of UBS, which, however, is starting to get used to the idea that it will have to act as an emergency rescuer. So much so that, according to Bloomberg, it would have already requested the National Bank that offers you guarantees and benefits in case you take the final step.
Logo of a UBS office in Switzerland.
Reuters.
Apparently, different scenarios are already beginning to be discussed. Aim? That the Swiss government assume certain legal costs and offer toppings before possible potential losses, according to the sources that the British media has consulted.
At the moment nothing is closed. Time is running out, and so are rumors. This Saturday ‘Financial Times’ published that Black Rock might be interested in taking over the Swiss bank. Minutes later, the fund directed by Larry Fink denied that possibility, and assured that it was not considering launching any operation.
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