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Phoenix Cos. to Sell Its Information Technology Subsidiary in India.

By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News

May 13--The Phoenix Companies Inc. has agreed to sell its information technology subsidiary in India -- Phoenix Global Solutions -- to Tata Consultancy Services for an undisclosed price.

The sale, expected to close by June 30 subject to regulatory approvals, is the latest move by Hartford-based Phoenix to shed non-core businesses and properties. Trying to improve financial results, Phoenix has been stripping down to concentrate on annuity, life insurance and money managemen

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