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Oh, sh_T!!!
UBS confronts shareholder funding revolt
The bank admits it cannot value its credit crunch exposure as it attempts to justify a £6bn emergency cash injectionMiles Costello
UBS moved today to head off a shareholder revolt over its emergency capital injection of SwFr13 billion (£6 billion) from a Singapore sovereign wealth fund and a mystery Middle East investor.
The financing raised objections among some shareholders who have threatened to vote down the deal at a special meeting next month unless they were given more details.
The bank wrote to shareholders today to explain why the funding was vital.
Switzerland's biggest bank and the world's largest wealth manager revealed the full extent of its financial plight, which it admitted today remains unquantified.
...
The bank admits it cannot value its credit crunch exposure as it attempts to justify a £6bn emergency cash injectionMiles Costello
UBS moved today to head off a shareholder revolt over its emergency capital injection of SwFr13 billion (£6 billion) from a Singapore sovereign wealth fund and a mystery Middle East investor.
The financing raised objections among some shareholders who have threatened to vote down the deal at a special meeting next month unless they were given more details.
The bank wrote to shareholders today to explain why the funding was vital.
Switzerland's biggest bank and the world's largest wealth manager revealed the full extent of its financial plight, which it admitted today remains unquantified.
...
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