Summary: UBS Sells Its Stake in Bank of China Essay by Top Papers

Summary: UBS Sells Its Stake in Bank of China
Summaries of 5 articles related to Swiss bank UBS and its business activities for 2009. Articles cover the sale of its stake in the Bank of China, the agreements made with the US authorities regarding offshore accounts. In an unprecedented move, UBS ...
# 143548 | 1,000 words | 5 sources | APA | 2009 | US


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Summaries of 5 articles related to Swiss bank UBS and its business activities for 2009. Articles cover the sale of its stake in the Bank of China, the agreements made with the US authorities regarding offshore accounts. In an unprecedented move, UBS agreed to disclose the names of its offshore account holders breaking with a firm tradition of of secrecy.

From the Paper:

Summary: UBS Sells Its Stake in Bank of China According to a report by Reuters (2008), UBS, a major Swiss banking conglomerate sold its interest in the Bank of China earning "a few hundred million dollars" on their investment. Reuter's news reported that UBS stated that the gain from the discounted sale to institutional investors would be posted to the fourth quarter results for the company. After purchasing the 1.8 percent stake in Bank of China, for $500 million in 2005, UBS reportedly sold the shares at the price of $835 million, a 12 percent discount, to 15 institutional investors. The Bank of China expressed that the sale would not harm relations with UBS. UBS affirmed

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APA Format

Summary: UBS Sells Its Stake in Bank of China (2009, December 01) Retrieved September 18, 2019, from https://www.academon.com/essay/summary-ubs-sells-its-stake-in-bank-of-china-143548/

MLA Format

"Summary: UBS Sells Its Stake in Bank of China" 01 December 2009. Web. 18 September. 2019. <https://www.academon.com/essay/summary-ubs-sells-its-stake-in-bank-of-china-143548/>

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