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Ant Group outbids Citadel for Credit Suisse China venture

Ant Group has outbid Citadel Securities for Credit Suisse’s investment bank venture in China, a move that could significantly impact the financial landscape. While Ant Group’s bid could face regulatory scrutiny due to a preference for a foreign buyer, UBS, which acquired Credit Suisse, is caught between choosing Ant’s higher offer or Citadel’s lower bid that might more easily receive government approval. This development is part of broader shifts in China’s financial sector, including UBS’ strategic decisions following its merger with Credit Suisse amidst challenges in the domestic A-share market and global financial dynamics.


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