UPDATE 1-Market Chatter-Corporate finance press digest

Aug 17 (Reuters) - The following corporate finance-related stories were reported by media on Friday:

* Travelodge Hotels Ltd will shed one in ten of its hotels under a major overhaul to be unveiled today, as its lenders agree to write off almost 720 million pounds ($1.13 billion) of debt, the Telegraph reported.

* Virgin Rail's losing bid for the West Coast train franchise is understood to have been officially rated by Britain's Department for Transport as a more "deliverable" offer than that of FirstGroup Plc, the Telegraph reported.

* Cinven Ltd, the private equity group, is poised to buy Mercury Pharma, a UK-based generic medicines business, for £465 million ($732.01 million)from its rival HgCapital Trust Plc, the Financial Times reported, citing individuals close to the transaction.

* Dish Network Corp must seek a partner to enter the mobile broadband market and is not likely to build a network from scratch because of delays from U.S. regulators, company Chairman Charlie Ergen told the Denver Business Journal and the Denver Post.

* Video game publisher Electronic Arts Inc, the name behind the highly popular "Sim City" and "Battlefield" titles, is exploring a sale, the New York Post reported, citing sources.

* Sharp Corp may sell its copier and air-conditioner businesses, Japanese media including the Nikkei business daily reported, as shrinking piles of cash prompt the company to consider restructuring its non-core assets.

* The Nagpur-based Abhijeet Group signed a $7 billion (Rs 39,069 crore)deal with US-based FJS Energy LLC for coal supply to fire its steel and power units in India, the Business Standard reported.

* India's state-run Oil and Natural Gas Corporation will shortly farm out nearly 26 percent stake in its KG-DWN-2004/6 block in the Krishna-Godavari basin to Japan's Inpex Corp, the Business Standard reported.

* India's biggest engineering and construction conglomerate Larsen & Toubro Ltd is planning to acquire the entire stake of US-based Flowserve Corp in their 50:50 joint venture Audco India Ltd, the Mint reported.

* Wipro Furniture, a part of Wipro Consumer Care and Lighting Group, may be considering at least two acquisition targets-a Bangalore-based furniture brand and another overseas chain-to strengthen its presence in the office furniture market, the Mint reported, citing two people close to the development.