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UBS Writes Down $10B; Sells $11.5B Stake

Subprime exposure will cost bank Q4 profit, result in loss for the year

By Jim O'Neill, Newser User

Posted Dec 10, 2007 7:32 AM CST

(Newser) – Investors from Singapore and the Mideast will breathe $11.5 billion in new capital into UBS as the Swiss banking giant announces that it will write down an additional $10 billion in subprime holdings, Bloomberg reports. The bank said the subprime losses, the biggest by... Read full story »

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UBS Writes Down $10B; Sells $11.5B Stake

Subprime exposure will cost bank Q4 profit, result in loss for the year

subprime mortgages • UBS • Singapore • Abu Dhabi

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