Bank UBS Group AG seeks around $6 billion in government guarantees for potential takeover Credit Swiss Group AGa source familiar with the discussions told Reuters.

Negotiations are ongoing and this amount may change as several scenarios are still being considered, the same source said.

The guarantees will cover the costs of liquidating parts of Credit Suisse and possible legal fees, two sources at the agency said.

Negotiations to resolve the crisis of confidence Credit Suisse faced serious obstacles. A merger between the two banks could result in 10,000 job losses, one source said.

Swiss regulators are rushing to find a solution for Credit Suisse before markets reopen on Monday. However, given the complexity of the union of the two hippos, it is likely that the discussion will continue tomorrow, Sunday.

Credit Suisse, UBS and the Swiss government declined to comment on this information.

^{Source: APE-MEB, Reuters}