Baz: The money apparently comes from Ospel
Ever since Moritz Suter purchased the Basler Zeitung (Baz) in late November 2010, people have been wondering where the Crossair founder got the money. The Sonntagszeitung has found new evidence suggesting that former UBS CEO Marcel Ospel is the secret financier. Neither Ospel nor publisher Moritz Suter has denied this.
According to the *Sonntagszeitung*, a person from Suter’s inner circle has asserted that the money came from former UBS Chairman Marcel Ospel. This has been confirmed by two prominent figures in Zurich’s conservative elite with whom Ospel maintains regular contact. According to the sources, who wish to remain anonymous, the Ticino financier Tito Tettamanti—who owned three-quarters of BaZ Holding and knows Ospel well—orchestrated the deal. Martin Wagner, who was a minority shareholder at the time, was not involved in the deal.
Ospel had done Suter a favor on several occasions: After the Swissair grounding in 2001, Suter was able to rescue his Crossair from the turmoil surrounding the struggling airline just in time, with the help of Ospel’s UBS. Furthermore, the two served together for several years on the Board of Trustees of the Basel Art Museums.
The banker neither confirms nor denies his involvement with the newspaper. Suter also refuses to comment on the matter. According to the report, he is currently seeking new investors. Only once these have been found does Suter intend to provide transparency regarding the Baz’s ownership structure.
Now Moritz Suter wants to take off with the BaZ
(Image: Keystone)
