UBS: doesn't believe in mega-mergers
(CercleFinance.com) - In an interview with the Swiss newspaper Tages Anzeiger, Axel Weber, chairman of UBS' board of directors, discussed a number of topics, including the potential restructuring of the European banking sector.
.. which the group excludes at this stage.
Tages Anzeiger discusses the sharp fall in banking shares in Europe - both UBS, Credit Suisse and Deutsche Bank. This has sparked merger rumours, which Axel Weber has swept aside: we talk a lot about mergers in Europe and the US, although nothing comes to fruition: it's just speculation, he says.
When asked about a potential takeover of Deutsche Bank by UBS, Mr. Weber replied that this kind of merger would not make much sense and that, at this stage, the Swiss bank prefers organic growth, adding that UBS is much stronger now than before the financial crisis of 2008/2009.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
.. which the group excludes at this stage.
Tages Anzeiger discusses the sharp fall in banking shares in Europe - both UBS, Credit Suisse and Deutsche Bank. This has sparked merger rumours, which Axel Weber has swept aside: we talk a lot about mergers in Europe and the US, although nothing comes to fruition: it's just speculation, he says.
When asked about a potential takeover of Deutsche Bank by UBS, Mr. Weber replied that this kind of merger would not make much sense and that, at this stage, the Swiss bank prefers organic growth, adding that UBS is much stronger now than before the financial crisis of 2008/2009.
Copyright (c) 2019 CercleFinance.com. All rights reserved.