UBS CEO Ermotti wont rule out large M&A but says it is unlikely

UBS AG Chief Executive Sergio Ermotti said on Thursday he cannot categorically exclude a large acquisition but that such a deal is unlikely, given the bank`s current status as the world`s largest wealth manager.

"It is difficult to rule out M&A," Ermotti told investors after the company released third-quarter results, adding options for a transformational deal with a big partner are limited.

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