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Insurer Phoenix no longer in talks to sell European businesses

June 15 (Reuters) - British insurer Phoenix Group said on Tuesday it was no longer in talks to sell its European businesses, concluding that a transaction would not maximise shareholder value.

Phoenix in mid-May confirmed it was in talks for a sale of the unit after Sky News reported a potential sale for around 550 million pounds ($774.68 million). ($1 = 0.7100 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shinjini Ganguli)

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