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Credit Suisse takes greater share in Swiss Life

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The financial services group, Credit Suisse, has been buying up shares in Switzerland's largest insurance group, Rentenanstalt/Swiss Life.

This content was published on July 25, 2000 - 13:39

CS Group disclosed on Tuesday it had increased its stake in Swiss Life to 5.5 per cent.

Swiss Life has been the subject of takeover speculation in recent weeks, but CS said its interest was purely financial and it had no strategic aims.

CS added that more than 10 per cent of Swiss Life's shares had recently been bought by the Italian group, la Fondiaria.

Swiss Life's share price dropped on the Zurich stock exchange in the wake of the CS statement.

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