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Financial Times - UBS to acquire Credit Suisse for $3.25 billion after frantic talks

Summary of the front page

The Financial Times leads with the news that UBS will take over its troubled rival Credit Suisse. 

After a week of frantic negotiations UBS agreed to buy Credit Suisse for $3.25bn, the Financial Times reports. 

The paper says the historic deal followed five days during which the Swiss establishment raced to end a deepening crisis that threatened the country’s second-largest lender.

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