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UBS sells subprime assets to BlackRock-run fund for $15 billion

ZURICH, Switzerland_Swiss bank UBS AG said Wednesday it has sold subprime and other mortgage-based securities with a nominal value of US$22 billion for US$15 billion (?9.5 billion) to a newly created investment fund run by U.S. asset manager BlackRock Inc. The sale is part of an attempt by... [read full story]                    

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