UBS Group’s planned acquisition of Credit Suisse will violate Chinese regulations

UBS Group’s planned acquisition of Credit Suisse will violate Chinese regulations

FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, June 22, 2020. REUTERS/Arnd Wiegmann

If Swiss financial giant UBS Group AG’s planned acquisition of collapsed bank Credit Suisse Group AG were completed today, the combined company would be in violation of Chinese regulations governing the ownership of securities firms.

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