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Swiss investment group Ethos Foundation joins legal challenge to Credit Suisse-UBS deal

Shareholders had no say on the emergency takeover of Credit Suisse by UBS, which paid $3.25bn for its rival

The emergency acquisition of Credit Suisse by UBS on 19 March was pushed through by the Swiss government
The emergency acquisition of Credit Suisse by UBS on 19 March was pushed through by the Swiss government Photo: Bloomberg via Getty Images

A group of leading Swiss investors have joined the legal challenge to UBS's shotgun wedding with cross-town rival Credit Suisse, which was pushed through by the Swiss government in March.

Ethos Foundation, a Swiss group that represents investors holding around 5% of stock in each bank, said that it would join Lausanne-based legal startup LegalPass in its campaign against the tie-up between the two banks.

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