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UPDATE 1-Market Chatter -- Corporate finance press digest

Published 08/25/2009, 01:52 AM
Updated 08/25/2009, 01:54 AM
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BANGALORE, Aug 25 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:

* The sale of Royal Bank of Scotland's (RBS) retail and commercial assets in China has hit a stumbling block that could derail the talks with the preferred bidder, Standard Chartered, the Financial Times reported on Tuesday.

* Britain's largest free-to-air broadcaster ITV is weeks away from signing a deal with Hulu, the U.S. video-on-demand venture, to syndicate its content in exchange for equity in the company, the Daily Telegraph said on Tuesday.

* China's state-owned Shandong Iron and Steel Group, the world's eighth-largest steel maker, will take a 67 percent stake in Rizhao Iron and Steel, one of the sector's largest non-state firms, the 21st Century Business Herald reported on Tuesday.

* Chinese supermarket chain Times Ltd's majority shareholder has invited bidders to make offers for the retailer, the Wall Street Journal reported, citing people familiar with the situation.

* Toyota Motor Corp plans to raise its daily production level in Japan in November compared with a year earlier for the first time in 16 months, thanks to a recovery in demand, the Asahi newspaper reported on Tuesday.

* Austrian bank BAWAG P.S.K., owned by U.S. financier Cerberus Capital, will get a planned 550 million euros ($786.8 million) of state aid in October or November but will have to accept strict conditions, state broadcaster ORF reported. (Compiled by Purwa Naveen Raman in Bangalore; Editing by Rupert Winchester) ((purwa.naveen@thomsonreuters.com; +91 80 4135 5800; Reuters Messaging: purwa.naveen.thomsonreuters.com@reuters.net)) ($1=.6990 Euro)

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