March 18 (Reuters) – BlackRock (BLK.N) mentioned on Saturday it had no plans or curiosity in buying embattled Swiss lender Credit score Suisse (CSGN.S), a spokesperson for the U.S. asset supervisor informed Reuters.
“BlackRock isn’t collaborating in any plans to accumulate all or any a part of Credit score Suisse, and has no real interest in doing so,” the spokesperson mentioned.
The Monetary Occasions reported BlackRock had been engaged on a rival bid for Credit score Suisse aiming to counter a plan for UBS AG (UBSG.S) to accumulate the struggling financial institution. It later up to date that story to incorporate BlackRock’s denial of any curiosity or involvement in such a deal.
The FT cited 5 individuals with data of the matter as saying the world’s largest asset supervisor had evaluated various choices and had talked with different traders.
The FT mentioned that attainable choices included bids for less than particular person components of the enterprise.
Reuters earlier reported Credit score Suisse was weighing up its survival choices and was underneath stress from regulators to pursue a cope with UBS.
Individually, two individuals with data of the matter informed Reuters on Saturday UBS was inspecting a takeover of Credit score Suisse that might see the Swiss authorities provide a assure in opposition to the dangers concerned.
Credit score Suisse declined to remark.
Reporting by Sneha Bhowmik in Bengaluru and Amanda Cooper in London; Enhancing by Frances Kerry and Hugh Lawson
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