By Dinesh Nair
BlackRock denied that it’s working on a possible rival bid for Credit Suisse Group AG, after the Financial Times reported it’s interested in a deal.
“BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so,” according to a spokesman for the US investment giant.
The Financial Times reported the US firm is considering various options and working with other investors on a potential deal. That came after the Swiss firm entered talks on a possible combination with UBS Group AG. The newspaper cited people briefed on the matter it didn’t identify.
The boards at Switzerland’s top two banks expect to meet separately this weekend to weigh the idea of a combination, with talks orchestrated by the Swiss National Bank and regulator Finma, the Financial Times reported on Friday.