The Swiss government has announced it is selling its stake in big bank UBS after concluding a deal in the United States to end a year-long tax-evasion dispute.
The announcement came after the close of the US stock exchange on Wednesday, and after details of the deal had been made known earlier in the day.
A consortium of banks has been asked to place the government's 332.2 million mandatory convertible notes with institutional investors. The sale should be completed on Thursday. More...
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