BlackRock has no plans to buy Credit Suisse after all

Afinal, BlackRock não tem planos para comprar Credit Suisse

US investment manager BlackRock said Saturday it is not participating in plans to buy Credit Suisse, rejecting interest in doing so in the future.

"BlackRock is not participating in plans to purchase all or any portion of Credit Suisse, and has no intention of doing so," the company said in a statement sent to news outlets and quoted by Lusa.

Credit Suisse on Thursday became the first major global bank to receive a public bailout since the 2008 financial crisis.

The Financial Times (FT) reported today that BlackRock would be preparing an offer to buy Credit Suisse after reports that UBS is this weekend in talks to acquire the bank.

In an updated version of the news 'online', the FT stated that BlackRock has reached out to other potential investors and evaluated various options, including buying only some business areas.

This news comes a day after the FT also reported that UBS is in talks to buy all or part of Credit Suisse's capital and that negotiations between the boards of the two largest Swiss financial institutions will take place this weekend.

These negotiations with UBS are being led by the Swiss National Bank and the Swiss financial market regulator, FINMA, according to sources cited by the London newspaper.

One of the authorities' concerns is to find a solution for Credit Suisse over this weekend that will convince and reassure the markets before the opening on Monday and thus avoid another black week for what is in the category of the 30 world banks that are considered too big to fail.

On Thursday it was announced that Credit Suisse would receive a loan of up to 50 billion Swiss francs (50.7 billion euros) from Switzerland's central bank to "strengthen" the institution's accounts.

At the same time, Switzerland's second largest bank announced a series of debt repurchase operations worth around CHF 3 billion (EUR 3.04 billion).

This help came a day after Credit Suisse faced its darkest session on the stock market, losing a quarter of its value, with its shares falling to a historically low level below 2 Swiss francs (2.03 euros).

This period of turbulence in the banking sector began earlier, with the collapse of Silicon Valley Bank (SVB) in the United States, following which Credit Suisse's stock market crashed sharply on Wednesday.

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