Insurance Post

Fosun withdraws from Israel purchase

UK stop sign - the word STOP in white on a octagonal red background

Chinese conglomerate Fosun has decided to end the firm's bid to buy a controlling 52% stake in Israeli insurer Phoenix.

A $475m (£300m) fee was agreed with Dalek in June but hadn't yet been approved by Israel's regulators.

Following a filing to the Hong Kong Exchange today, Fosun's chairman Guo Guangchang, who visited

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