Last month the OFT delayed approval on the deal, extending its consultation period for a further ten working days, something it stated was standard practice.
The deal was originally announced in January as part of an expansion exercise by BlackRock, which is keen to expand the presence of its iShares business in the Swiss market.
Credit Suisse, meanwhile, is undertaking a divestment strategy and the deal will see it transfer around 58 funds with an AUM of approximately CHF 16bn to iShares.
The funds will retain their names, mandates and indices as part of the agreement, and the combined platform will consist of around 264 ETFs and $157.6bn in AUM.
A spokesperson for BlackRock said: ““Following today’s decision, we are on track to complete on or around the 1st July. The deal significantly extends BlackRock’s footprint in Switzerland and will offer local investors an expanded range of iShares ETFs.”
The firm reported a 16% increase in ETF assets on the platform during the first quarter of the year and a couple of weeks ago unveiled Europe’s first ETF with an international security structureaimed at improving liquidity and reducing the cost of trading ETFs cross-border.
