WASHINGTON (dpa-AFX) - UBS Group AG is in discussions to acquire full
ownership of its China platform by exchanging its stake in Credit Suisse's
onshore securities venture with a Beijing government investment fund, Bloomberg
reported citing people familiar with the matter.

The proposed deal involves UBS buying the remaining 33% stake in UBS Securities
Co. from Beijing State-Owned Assets Management Co. and selling its entire 51%
position in Credit Suisse Securities (China).

Chinese regulations prohibit a foreign shareholder from holding majority stakes
in two domestic brokerages simultaneously, prompting UBS to seek full ownership
of its own securities venture.

Despite previous attempts by UBS to increase its ownership to 100%, the Beijing
government has hesitated to sell due to the promising growth and earnings
potential of the onshore business.



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