UPDATE 1-Market Chatter-Corporate finance press digest
Oct 8 (Reuters) - The following corporate finance-related stories were reported by media:
* Russian state-controlled telecoms operator Rostelecom aims to cut capital expenditure in the next four years and focus on internet services such as digital TV, business daily Vedomosti reported on Tuesday, citing sources.
* PHH Corp is exploring splitting up its mortgage and auto fleet leasing businesses, and selling each of the units, three people familiar with the situation told Reuters on Monday.
* Spanish oil major Repsol is putting the brakes on the planned sale of a 30 percent stake in Gas Natural Fenosa , sources said on Monday, facing the need to offer a steep discount to attract buyers.
* Spain's largest bank, Santander, is finalising a deal to buy a controlling stake in the country's largest consumer finance business from department store chain El Corte Ingles, sources said on Monday.
* Brazilian oil producer OGX Petróleo e Gas Participações SA is meeting with U.S. creditors in New York on Monday in a bid to jump-start rescue talks while banks scamper to arrange an emergency loan for the company if no deal is reached, sources with knowledge of the situation told Reuters.
* China Resources Enterprise Ltd is set to launch a strategic review of its Hong Kong meat distribution unit, a person familiar with the matter said, as it readies funds to bid for tycoon Li Ka-shing's ParkNShop supermarket business.
* Britain's Vodafone plans to invest as much as $2 billion to buy out minority shareholders in Vodafone India, the Financial Times reported on Monday.
* Malaysia's southern state of Johor, which neighbours Singapore, will impose a higher processing fee on foreigners who buy houses, state news agency Bernama reported, as it looks to boost revenues and rein in speculative buying.
* Vodafone Group Plc is not interested in bidding for Brazil's Tim Participacoes SA, Bloomberg News reported, citing a person with direct knowledge of the company. Analysts at BTIG LLC and Brandes Investment Partners have cited Vodafone as a potential suitor for Tim, Brazil's second-biggest wireless carrier. ()
* E-commerce site Zulily Inc plans to announce an initial public offering this week, as activity around consumer Internet IPOs heats up, the Wall Street Journal reported, citing people familiar with the matter. ()
* D.E. Shaw is closing its doors to new clients, joining other large hedge funds that have stopped accepting cash into their flagship funds, the Financial Times reported on Monday.