BlackRock denies reports it is preparing a takeover bid for Credit Suisse

BlackRock headquarters in New York, U.S. on Friday, Jan. 13, 2023. via Getty Images

Michael Nagle | Bloomberg | Getty Images

BlackRock has denied a report that it is preparing a takeover bid for a struggling Swiss lender Swiss credit.

“BlackRock is not involved in any proposed acquisition of all or part of Credit Suisse and has no interest in doing so,” a company spokesperson told CNBC on Saturday morning.

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It comes after the The Financial Times reported that the US asset manager was working on a bid to acquire the bank, citing people familiar with the matter.

UBS was also mentioned as a potential buyer, with the FT reports Friday that it is in talks to take over all or part of Credit Suisse, after a difficult week for the bank which saw its share price fall.

This is a developing story and will be updated shortly.

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