MADRID, 20 Mar. (EUROPA PRESS) -

The shares of Credit Suisse and UBS have started the session this Monday on the Zurich Stock Exchange with sharp falls after the agreement for the merger of the two largest entities in Switzerland orchestrated this Sunday together with the authorities of the Swiss country.

In this way, the titles of Credit Suisse came to fall almost 64% at the opening, to 0.67 Swiss francs per share, below the acquisition offer of 0.76 francs agreed yesterday, while those of UBS they would lose 13% of their value.

This Sunday, the Swiss authorities and the two banks reached an agreement for the purchase of Credit Suisse by UBS for 3,000 million Swiss francs (about 3,037 million euros), in an operation in which the Swiss Government guarantees 100,000 million francs Swiss for the bank's liquidity and will assume up to 9 billion francs in possible losses.

Specifically, Credit Suisse shareholders will receive one UBS share for every 22.48 shares in the original entity while the Swiss central bank, the SNB, will provide guarantees to guarantee the liquidity of banking entities.

The published figures imply the purchase by UBS at 0.76 Swiss francs per share, far from the 1.86 Swiss francs that Credit Suisse was trading at at Friday's close.

The tensions in the markets were reflected again this Monday in the price of the main banks of the Old Continent, despite the ease of liquidity announced by the large central banks.

In this way, the titles of the French banks Société Générale and BNP Paribas yielded 6.91% and 6.40%, respectively, while the Dutch ING left 5.66%, and the Italians UniCredit and Intesa Sanpaolo they fell 4.97% and 3.31%, respectively.

On their side, German banks also traded with sharp declines, which in the case of Deutsche Bank exceeded 10%, while in that of Commerzbank they were around 8%.