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Credit Suisse, UBS shares plunge after takeover announcement

Shares of Credit Suisse plunged 63 per cent in early trading Monday after the announcement that banking giant UBS would buy its troubled rival for almost US$3.25 billion in a deal orchestrated by regulators to stave off further market-shaking turmoil in the global banking system.

A stock ticker of the developments on the Credit Suisse stock exchange displayed in Zurich, on March 20, 2023. (KEYSTONE / Ennio Leanza / Keystone via AP)

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