LONDON (dpa-AFX) - Phoenix Group Holdings plc (PHNX.L) said that it has discontinued discussions regarding the potential sale of its European businesses.
Phoenix noted that it received unsolicited expressions of interest for Phoenix Europe and has recently been in advanced discussions with a third party about a potential sale. However, the Board has concluded that the transaction under consideration would not maximize shareholder value and therefore discussions have been discontinued.
Phoenix will now progress a range of management actions to maximize shareholder value.
Copyright RTT News/dpa-AFX