Will a Swiss Discount Retailer Rescue Credit Suisse in Switzerland?: Competition law was tossed out the window during the takeover of Credit Suisse and is now the subject of heated debate in parliament, but in the… CreditSuisseSwitzerland competition
Competition law was tossed out the window during the takeover of Credit Suisse and is now the subject of heated debate in parliament, but in the medium term, it will come into play. Therein lies an opportunity for the continued existence of the bank on its home turf.
While parliament initiated a future banking regulation in review proposals, its implementation will drag on for years. Competition law is proving to be more effective in shaping the new UBS/CS entity, especially in its home market. Although set aside for the March 19 takeover, the baton has been passed from the Competition Commission the Swiss Financial Market Supervisory Authority .But postponed is not canceled.
A useful template is required, and as fate would have it one is available. In an interview with finews.com, an observer refers to a takeover that took place before the financial crisis. The purchase of the discounter Denner by the Swiss retail giant Migros in 2007. Although Denner had just ten percent of Migros' market share at the time, Weko only approved the deal subject to «drastic conditions.
Nevertheless, operational independence ordered by the authorities would bring apparent advantages, especially for Credit Suisse's Swiss business, which could also defuse the situation for UBS, at least politically.In the medium term, Credit Suisse's profitable Swiss Bank would remain independent and not have to break up its branch network, which is largely similar to UBS's.
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