UBS close to selling Credit Suisse China joint venture to state-owned firm

UBS close to selling Credit Suisse China joint venture to state-owned firm

FILE PHOTO: The logo of Swiss bank UBS is seen at the bank's branch in Shanghai, China, March 20, 2023. REUTERS/Aly Song/File Photo

UBS Group AG is in talks with a state-owned Chinese company over the sale of Credit Suisse’s China joint venture after an offer from Citadel Securities LLC failed to meet expectations, people familiar with the matter said.

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