Swiss investors criticize UBS rescue by sovereign funds

02/13/2008 | FinanceAsia.com (Hong Kong)

UBS shareholders, lead by Profund, are attacking the bank's risk management and acceptance of capital infusions from sovereign wealth funds. They say the bank's existing investors were not given the opportunity to provide capital. UBS said that the foreign investors provided a "firm and immediate commitment," avoiding a delay that may have hurt public opinion of the bank.

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