Credit Suisse: Saudi Arabia and Qatar Set to Lose Big After UBS Deal (Middle East Eye)

  • Less than six months ago, the Saudi National Bank paid $1.5bn for a 9.9 percent stake in Credit Suisse. That stake is now worth about $280m, the website Market Watch reported, after UBS swooped in to acquire its embattled rival this weekend in a deal initially valued at about $3.25bn.Also left reeling is the Qatar Investment Authority, which has a 6.8 percent stake in Credit Suisse. Qatar’s sovereign wealth fund increased its stake as recently as January this year, becoming the Swiss bank’s second-largest shareholder after Saudi National Bank, which is the largest bank in Saudi Arabia.

Source: Credit Suisse: Saudi Arabia and Qatar set to lose big after UBS deal (Middle East Eye)

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