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Swiss govt says has not asked UBS to break up

The logo of Swiss bank UBS is pictured on a building in Zug October 17, 2008. REUTERS/Michael Buholzer

ZURICH (Reuters) - The Swiss government has never asked UBS UBSN.VX to break up its business, a government spokesman said on Thursday, denying a report in U.S. newspaper New York Post.

The New York Post said in an article published on its website that Swiss bank giant UBS was under pressure from the Swiss government to break itself up.

“No. We have not put pressure on UBS for a break-up,” a Swiss government spokesman told Reuters.

In the article, the newspaper said UBS would reaffirm its commitment to being an integrated bank when it unveils results on Tuesday although it was expected to say it planned to shrink or eliminate certain parts of its business.

Reporting by Lisa Jucca

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