UBS Weighs Credit Suisse China Stake Swap With Beijing Government

(Bloomberg) — UBS Group AG is in discussions to attain full ownership of its China platform by swapping its holding in Credit Suisse's onshore securities venture with a Beijing government investment fund, according to people familiar with the matter. The Zurich-based lender is proposing to buy its remaining 33% stake in UBS Securities Co. from Beijing State-Owned Assets Management Co. and in return sell up to its entire 51% position in Credit Suisse Securities (China) as part of the transaction, the people said, asking not to be identified discussing a private matter. The latest proposal is adding a new twist…