Weekly Global News Wrap: UBS mulls HQ shift; Sabadell demands gov’t transparency

And France’s Credit Mutuel Alliance Federale is buying Oldenburgische Landesbank.

From Bloomberg:
UBS Group AG is reportedly examining a potential relocation of its headquarters unless Switzerland rethinks its demand that the bank hold an extra $25b of capital, people familiar with the matter said.

Executives reportedly believe that remaining in Switzerland would make the Zurich-based firm uncompetitive relative to global rivals, the people said, asking not to be identified discussing confidential details.

From Reuters:
The chairman of Spain’s Sabadell has urged the government to be transparent about any conditions it may put on the hostile takeover bid the bank faces from bigger rival BBVA.

The government opposes a deal that valued Sabadell at more than $13b when it was announced in April 2024, due to the potential impact on competition and jobs.

From Reuters:
French banking group Credit Mutuel Alliance Federale is buying German lender Oldenburgische Landesbank (OLB).

The price tag for OLB is close to €2b, two sources close to the matter told Reuters.

The planned sale was announced by OLB and the French bank's German subsidiary, Targo Deutschland, on Thursday. Neither bank disclosed financial terms.

Also Read

India and Nepal orgs ink MOU to develop investment banking sector

Citibank’s Chia Seok Hoon is an advocate for her co-workers

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit