The Malaysian Insider, 21 Aug 2009
LONDON,Aug 21 — The Government of Singapore Investment Corp (GIC) is now the biggest shareholder in UBS, after the Swiss government sold its 9 per cent stake in the bank, people familiar with the lender said.
The sale yesterday drew lively bids, traders said, with a price range seen above the stock’s closing price in the previous session.
GIC said yesterday it did not buy any shares in UBS from the Swiss government, but that it remained confident about the bank’s future.
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