Credit Suisse shares fall after Wells Fargo denies deal talks
ZURICH (Reuters) - Credit Suisse's shares dropped on Wednesday after Wells Fargo denied it was in talks to buy assets from the Swiss lender.
Credit Suisse shares has risen after online industry publication Hedge Fund Alert reported that the San Francisco-based bank was in talks to buy parts of Credit Suisse's investment banking and capital markets businesses, including its prime brokerage.
The Zurich-based lender's shares dropped from a high of 17.59 Swiss francs ($17.46) at 1422 GMT to 16.48 francs at 1545 GMT after the Wells Fargo denial.
"There is no truth to the rumour being reported," Wells Fargo spokeswoman Elise Wilkinson said.
Credit Suisse declined to comment on the report.
(Reporting by Brenna Hughes Neghaiwi, Ruppert Pretterklieber and Oliver Hirt in Zurich and Carmel Crimmins in New York, Editing by Michael Shields)
