Thursday, July 3, 2008

Citi sees more UBS writedowns

(ZURICH) UBS may post US$6.9 billion of additional writedowns and seek to raise more capital, Citigroup Inc said yesterday after UBS chairman, Peter Kurer told Swiss newspaper Finanz & Wirtschaft on Wednesday that the Swiss bank will not need more funds.

Source: http://business-times.asiaone.com/mnt/html/btpre/registration/redirect.jsp?dlink=/sub/news/story/0,4574,286377,00.html?

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