UBS seen up after media report on foreign banks' possible merger interest

By Reuters News

** Switzerland's UBS UBSG.S seen rising 1% in pre-market indications after a media report said several major foreign banks expressed interest in a possible merger or combination

** Swiss newspaper Blick reported on Sunday at least eight banks have signalled interest to UBS, citing an insider with knowledge of the matter

** UBS has declined to comment

** A local trader says the debate stems from a decision by Switzerland's upper house in favour of ​tougher capital rules

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