General Electric Co wants to sell its Swiss consumer lending business and UBS AG is one of the possible bidders, in a deal that could be worth up to 1.5 billion Swiss francs ($1.6 billion), sources said.Two people familiar with the matter told Reuters UBS was one of at least two parties who planned to submit offers for GE Money Bank in an auction process."GE wants to finalise the sale ... by the end of the first quarter," said one of the sources.Spokespeople for UBS and GE Money Bank in Switzerland declined to comment.
UBS AG is a client-focused financial services company that offers a combination of wealth management, asset management and investment banking services on a global and regional basis. Shares of UBS traded higher by 1.09% or $0.17/share to $15.78. In the past year, the shares have traded as low as $9.78 and as high as $15.89. On average, 3266260 shares of UBS exchange hands on a given day and today's volume is recorded at 235983.
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