UPDATE 1-Market Chatter-Corporate finance press digest

Thu May 22, 2014 1:58am EDT

(Adds item on Haitong Securities Co Ltd)

May 22 (Reuters) - The following corporate finance-related stories were reported by media:

* Alstom will not give suitor Siemens any more information about its power business than it has already disclosed to rival bidder General Electric, which has made a $17 billion approach to the French company, a person close to the French camp said on Wednesday.

* U.S. regulators are investigating Charles Schwab Corp and Bank of America Corp's Merrill Lynch brokerage over whether they are doing enough to learn about their clients' identities, sources said, the latest sign a crackdown on money laundering is expanding.

* Reynolds American Inc is in active discussions to buy Lorillard Inc in a complicated, three-way transaction that could see British American Tobacco Plc take a major role to back a potential merger, according to people familiar with the matter.

* Unilever is in advanced talks to sell its Ragu pasta sauce business to Japanese condiments maker Mizkan Group for more than $2 billion, according to people familiar with the matter.

* Hungarian low-cost airline Wizz Air is set to unveil plans for a London initial public offering on Thursday, a source familiar with the matter said, reviving stock market listing plans for Central and Eastern Europe's largest budget airline.

* Canadian pension fund PSP Investment is making a surprise comeback in the race to buy broadcasting masts group TDF's French unit, opening a new episode in a protracted selloff saga, said three sources familiar with the matter.

* The former chief executive of Deutsche Telekom is in talks to take a job as a senior adviser with U.S. buyout group General Atlantic, a person familiar with the negotiations told Reuters on Wednesday.

* IMC Financial Markets has agreed to acquire Goldman Sachs Group Inc's rights to operate as a designated market maker in more than 600 NYSE-listed stocks, the Wall Street Journal reported on Wednesday.

* Bank of America Corp is dismantling an electronic market-making unit it set up last year to serve its Merrill Lynch wealth-management unit's clients, two people with knowledge of the matter told Bloomberg.

* Activist investor Starboard Value LP, which did not want Darden Restaurants Inc to sell the Red Lobster seafood chain, is launching a fight to take over the Darden board, the Wall Street Journal reported, citing people familiar with the matter.

* Lloyds Banking Group is joining a class-action lawsuit against government-owned Royal Bank of Scotland, seeking 420 million pounds ($709 million) over the bank's handling of its 12-billion-pound rights issue, the Herald Scotland newspaper reported.

* British clothing chain Fat Face (IPO-FFFL.L) is expected to abort its planned listing following disappointing stock market debuts by rivals, Sky News reported late Wednesday.

* Blackstone Group LP and TPG Capital Management LP are expected to make a combined offer for Kensington, one of Britain's biggest specialist mortgage lenders, Sky News reported on Wednesday.

* China's second-largest brokerage Haitong Securities Co Ltd plans to launch a 10 billion yuan ($1.60 billion) fund for mergers and acquisitions, the official Securities Times reported on Thursday, citing unnamed sources.

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