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UBS is coming down a bit in France

UBS is coming down a bit in France

Investors at least seem fully satisfied with the ruling of the Paris Court of Appeal: when it became known on Monday afternoon that major bank UBS was also convicted in the tax dispute with France in the second degree, UBS investors were pulling hard.

The reason for the euphoria: The UBS Court of Appeals gave a much smaller ruling than was feared after the first ruling in February 2019. But this is where the clarity ends. “It is difficult to understand the court’s decision,” attorney Hervé Timim, who represents UBS, said after the ruling.