UBS Group, Credit Suisse oppose idea of forced merger, says report

Wall Street bank JPMorgan on Wednesday said that Credit Suisse's takeover by another lender, probably UBS, was the most likely scenario for the embattled bank

UBS Group AG and Credit Suisse Group AG are opposed to a forced merger, Bloomberg News reported on Thursday, citing people with knowledge of the matter.

UBS prefers to focus on its own wealth-centric strategy and is reluctant to take on risks related to Credit Suisse, the report said, as the smaller rival seeks additional time to complete its restructuring efforts after receiving financial support from the Swiss central bank.

UBS and Credit Suisse declined to comment on Reuters' requests for comment.

Wall Street bank JPMorgan on Wednesday said that Credit Suisse's takeover by another lender, probably UBS, was the most likely scenario