Swiss Prosecutors Probe Credit Suisse Ahead of UBS Takeover

Swiss Prosecutors Probe Credit Suisse Ahead of UBS Takeover
A traffic light signals green in front of the logos of the Swiss banks Credit Suisse and UBS in Zurich on March 19, 2023. Michael Buholzer/Keystone via AP
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GENEVA—The Swiss attorney general’s office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS.

Switzerland’s government and financial regulators helped engineer the hastily arranged, $3.25 billion agreement that was aimed in part to help calm worries about the global financial system and will leave the country with a single huge global bank.