These had emerged the previous day through a report by the financial blog Inside Paradeplatz. “The ongoing market rumors are unfounded,” State Street said in a statement obtained by the Bloomberg news agency.
“While it has long been our policy not to comment on such speculation, we believe that a response to these reports is warranted in this instance,” State Street said in a statement.
The portal “Inside Paradeplatz” wrote on Wednesday afternoon, citing a source, that State Street was considering a takeover bid for the ailing Swiss bank. The share price of the institute, which had previously been depressed because of the profit warning, shot up significantly as a result.
Credit Suisse CEO Thomas Gottstein, speaking at a Goldman Sachs financial conference on Thursday, rejected the question of State Street taking over the bank with unusually harsh words: “We never comment on market rumors.” His father had already taught him that one should “not answer stupid questions”.
In response to the denial, State Street shares rose slightly on the New York Stock Exchange on Thursday. In contrast, the Credit Suisse securities traded in the USA fell. Credit Suisse shares had already lost 5.6 percent in Swiss trading.
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