UBS "bought" Credit Suisse

Hi everyone, today it was communicated, UBS will acquire Credit Suisse. What will happen to shares of Credit Suisse hold in T212 portfolios? Will they be converted into UBS shares following the communicated ratio: 1 UBS share for every 22.48 Credit Suisse shares held? It is not yet very clear when this will happen. Will T212 still allow trading in CS shares?


You’ll need to keep an eye on the RNS’s released to the market. You know as much as other investors do right now. 212 will not have any additional information.

As you’ve said, sounds like the shares will be converted, at a future date to be agreed. CS shares will likely be suspended.

I put a limit buy for UBS @ 14.000 for my fun portfolio and no catch yet - reasonable offer :man_shrugging:

Won’t holders in CS become holders in UBS?

I bought UBS last week @ circa FR 17.16/share.

I bet now is a peak primetime for buying.

*Personal opinion only

Yes there would per BBC news and once completed T212 would reflect it on investors accounts.
I have so far received Haleon shares from GSK spin and i think damler trucks & Benz a while back which i sold. In summary it has worked so far for me tho

There is still no guarantee that the merger would be successful.

There are several conditions that need to be fulfilled.

For example, the national competition authorities have to give their authorization.

UBS have set some exit options, e.g. CDS on their bonds.

The UBS shareholders can block the merger, although the Swiss Government said it would change the Swiss Law to bypass the UBS shareholders decision.

The CS AT1 bondholders are doomed to be 100% wipeout, although the CS shareholders will get some money back.

The UBS didn’t had time to do Due Diligence on CS, although they negotiated some State Guarantees for unexpected surprises, I suspect they have designed a set of threshold conditions to have exit options.

This process has open a can of worms…

If I have a bias against investing in banks, all this simply reinforced my convictions.