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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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The Financial Services Compensation Scheme’s £85,000 payout limit should apply to each company within the groups which own them, according to Shadow Treasury financial secretary Chris Leslie. Currently the way the protection applies depends on the way a bank is licenced. With some affiliated banks, like Halifax and Bank of Scotland which are both owned […]

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