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Phoenix still in discussions with private equity suitor

Phoenix Group says it is still in discussions with private equity firm CVC Capital Partners regarding a possible acquisition.

The firm announced in November that it was is in early stage discussions with CVC over a possible £1bn takeover.

The closed life provider had previously been in talks with Clive Cowdrey’s consolidation vehicle Resolution.

In an announcement to the stockmarket this morning, Phoenix says it will provide a further update when appropriate but in no less than 28 days.

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