State Street: no interest in buying Credit Suisse

Reuters reports:

“State Street is not pursuing an acquisition of, or any other business combination with, Credit Suisse,” State Street said in an emailed statement. “There is no basis to the continuing market rumors.”

Credit Suisse shares had spiked higher on Wednesday afternoon and State Street shares lost ground, with traders citing a report by Swiss financial news blog Inside Paradeplatz that U.S-based State Street was planning a takeover bid for the troubled lender, though many in the industry expressed doubts about the claim.

Credit Suisse Chief Executive Thomas Gottstein earlier Thursday called queries over a potential takeover offer from the U.S. bank “really stupid,” shutting down questions.

The full article is available at

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