UBS's takeover of Credit Suisse doesn't raise any concerns about competition at EU level.
The EU has approved the takeover of Credit Suisse by UBS unconditionally, it said in a statement Thursday, adding that the new UBS will not significantly impede competition in the markets where the parties' activities overlap in the European Economic Area.
«In particular, the Commission found that the combined entity will continue facing significant competitive pressure from a wide range of competitors in all of those markets, including several major global banks as well as specialist providers and strong local players.»
