Market Chatter - Corporate finance press digest

BANGALORE, July 4 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:

* Vodafone Group Plc is in advanced discussions with rival Hutchison Whampoa Ltd about merging their Irish telecoms infrastructure, the Financial Times reported on Wednesday.

* The Tokyo Regional Taxation Bureau is seeking 5 billion yen ($62.60 million) in back taxes and penalties from Olympus Corp stemming from its acquisition of British medical equipment maker Gyrus Group Plc in 2008, The Nikkei business daily said.

* South Korean retailer Lotte Shopping Co has been chosen as the preferred bidder for a controlling stake in Hi-mart Co, South Korea's biggest electronics retailer, local media reported on Wednesday.