Ever since GFC banks don't really prop trade any more.
CS is just the agent. There are two parts of the bank - the securities unit and prime brokerage. Securities usually just trade on behalf of clients (i.e., it's your Comsec equivalent but for institutions, when you send a buy order through comsec, it's not you trading. It's commbank trading on behalf of you). Prime brokerage is like the private bank for high net worth customers, but for hedge funds. In this case CS Europe borrowed shares from (presumably) super funds and lent them out to the two hedge funds to short
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