Activist investor Cevian Capital has taken a EUR 1.2B stake in UBS, betting that the Swiss bank can double its valuation over the next three to five years, Financial Times’ Stephen Morris, Owen Walker, and Harriet Agnew report. Cevian has invested just under a tenth of its total portfolio in UBS shares since it rescued Credit Suisse in March, according to people with knowledge of the approach. Cevian is now a top-10 investor in the Swiss bank.
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