UPDATE 1-Market Chatter-Corporate finance press digest
(Adds China Reinsurance Group Corp)
Aug 11 (Reuters) - The following corporate finance-related stories were reported by media:
* Snapchat Inc's financing talks with China's Alibaba Group Holding Ltd IPO-BABA.N are over, Bloomberg reported, citing people familiar with the matter.
* Tango, the mobile messaging company, is arranging a financing transaction that would value its business at around $1.5 billion, roughly one-third more than the valuation it received just five months ago, according to three people familiar with the situation.
* Private equity giant TPG Capital Management LP made a $3.1 billion approach for Australia's Treasury Wine Estates Ltd, a source said, setting the scene for a possible bid war for the world's No.2 winemaker with rival KKR & Co LP.
* Blackstone Group LP is close to a deal to buy a 50 percent stake worth $1.2 billion in a gas field in Louisiana currently owned by Royal Dutch Shell, according to a person familiar with the matter.
* Royal Bank of Scotland Group PLC is shutting its controversial turnaround division and the two most senior executives who ran it are to leave the bank, a person familiar with the situation said on Friday.
* China Reinsurance Group Corp, the country's biggest reinsurer, is planning an initial public offering of up to about $2 billion in Hong Kong in the first half of next year, the latest instance of Beijing's push to reform its state-owned firms. The Beijing-based state-owned company is working closely with UBS AG and HSBC Holdings PLC on preparations, the Wall Street Journal reported, citing people with direct knowledge of the deal. (on.wsj.com/1oVuFvm)
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For the Morning News Call-EMEA newsletter click on (Compiled by Rama Venkat Raman in Bangalore; Editing by Biju Dwarakanath)