UPDATE 1-Market Chatter-Corporate finance press digest

Mon Jan 21, 2013 2:09am EST

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(Adds Reliance, Nine Entertainment, Wuthelam Group, Nokia Siemens, Independent News & Media)

Jan 21 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* Reliance Industries Ltd plans to spend more than $2 billion on Venezuelan oil fields, betting President Hugo Chavez's failing health won't lead to political upheaval, Bloomberg reported, citing a person with direct knowledge of the decision. (link.reuters.com/wed45t)

* Nine Entertainment's creditors have approved a $3.6 billion recapitalisation scheme that will see U.S. hedge funds take control of one of Australia's best known TV networks, paving the way for a possible listing in 2014, a source familiar with the situation said.

* Hong Kong paint maker Wuthelam Group plans to launch an open bid for a controlling 45 percent stake in Japan's Nippon Paint Co for about 70 billion yen ($778 million) to expand market share overseas, public broadcaster NHK said on Monday.

* Restructuring specialist Hilco is the frontrunner in the battle to save music retailer HMV from administration, British media reported.

* Santander is considering making a 2 billion pound ($3.2 billion) bid for National Australia Bank's UK business to accelerate its British expansion, the Sunday Times reported citing unnamed sources.

* Nokia Siemens Networks (NSN) is planning to raise as much as 700 million euros ($930 million) from public markets in the spring to pay down debt and fund investment, the Financial Times said on its website on Sunday, citing people familiar with the plan.

* Irish publishing group Independent News & Media has received offers of around 150 million euros ($199.3 million) for its South African unit, about 100 million euros less than the expected price tag, Ireland's Sunday Business Post newspaper reported.

* The boards of Aldar Properties and Sorouh Real Estate, Abu Dhabi's biggest real estate developers, have approved a state-backed merger of the firms through a share swap, sources familiar with the matter said.

* L&T Finance is in advanced stages of negotiations to buy Morgan Stanley's wealth management business in India, the Business Standard reported.

* Private equity firm EQT has pulled the sale of German academic publisher Springer Science+Business Media because it believes it can achieve a better price later in the year, the Financial Times reported on its website.

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For the Morning News Call-EMEA newsletter click on (Compiled by Abhishek Takle in Bangalore; Editing by G.Ram Mohan and Mark Potter)

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