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UBS expects government stake sale

Posted on August 4, 2009 2:37 PM
UBS on Tuesday, Aug. 4, said the Swiss government would soon be able to unload its 9% holding even as the struggling Swiss bank posted a worse-than-expected second-quarter loss.

The Zurich bank slipped to a 1.4 billion Swiss franc ($1.32 billion) loss in the three months ended June 30 after an Sfr395 million loss in the second quarter of 2008, well below the Sfr 1.1 billion loss analysts had been expecting.

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