According to people familiar with the development, Swiss financial major UBS has been a notable seller in the market today.
Their selling has resulted in fresh speculation cropping up about the health of Europe's financial institutions, though this could not be substantiated. Though there are no official figures about the quantum of UBS's investments in India, market participants estimate them at roughly $1.0-1.5 billion.
This talk comes at a time when a larger section of the market participants thought that the worst impact of the subprime crisis on global financial institutions was over.
Thursday, January 15, 2009
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