Activist investor Cevian Capital said it is “not viable” to run a large international bank in Switzerland due to new strict proposals and, unless the position changes, UBS (UBS) will have “no realistic option” other than to leave the country, Simon Foy and Mercedes Ruehl of The Financial Times reports. Cevian holds 1.4% of UBS’s shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on UBS:
- Crypto Currents: Fed policy may boost crypto as treasury boom wanes
- Goldman Sachs (GS) and Morgan Stanley Secure Victory in Appeal Tied to Archegos Collapse
- UBS Group AG: Balanced Growth Prospects Amid Market Opportunities and Strategic Challenges
- UBS May Relocate to U.S. as Swiss Rules Demand $26 Billion Capital Boost
- NIO Prices $1B Equity Offering to Power EV Growth, Stock Tumbles 10%