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Adieu or au revoir?

21 May 2008 By Mike Verdin

Despite taking a $7bn hit on the assets it has sold to BlackRock, the Swiss bank is on the hook if they fall another $3.8bn as it is lending BlackRock $11.2bn. Even so, the deal gives a fillip to UBS s detox programme roughly halving the assets scheduled for its bad bank.

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