UPDATE 1-Market Chatter-Corporate finance press digest

Mon Aug 18, 2014 2:22am EDT

(Adds items on Sonic Automotive, Scandinavian Tobacco Group and Twenty-First Century Fox)

Aug 18 (Reuters) - The following corporate finance-related stories were reported by media:

* PricewaterhouseCoopers has agreed to pay a $25 million penalty imposed by the New York State's financial regulator, taking aim at the consulting firm for watering down a report about one of the world's biggest banks, Bank of Tokyo-Mitsubishi UFJ. The settlement also includes prevention of one of its consulting units from taking on certain assignments from New York-regulated banks for two years, the New York Times reported, citing sources close to the matter. (nyti.ms/YmBhtn)

* Shake Shack, the fast-food restaurant chain famous for its hamburgers and milkshakes, is preparing to go public, seeking to tap stock market demand for popular casual dining companies, according to people familiar with the matter.

* Hyundai Motor Co plans to remodel a car assembly plant belonging to a Chinese partner, a newspaper reported, a move which could help pave the way for the South Korean automaker to build a separate factory in western China.

* Some Wall Street banks are drawing up preliminary plans that include moving some of their London-based operations to Ireland to deal with the possible scenario of Britain leaving the European Union, the Financial Times reported on Sunday, citing people familiar with the situation.

* Private equity firms Blackstone Group LP and TPG Capital Management LP are close to buying subprime mortgage lender Kensington, Britain's Sky News reported on Sunday.

* Credit Suisse helped put together billions of dollars in securities that were issued by offshore investment vehicles of Banco Espirito Santo SA and then sold to the Portuguese bank's retail customers, the Wall Street Journal reported on Sunday.

* Women's shoe retailer Stuart Weitzman is preparing to launch a sale process and has tapped investment banks Goldman Sachs Group Inc and Citigroup Inc to assist with the effort, people familiar with the matter said.

* The Sultan of Brunei has made a bid for New York's Plaza Hotel, Dream Hotel and London's Grosvenor House hotel, the Wall Street Journal reported on Saturday, citing people familiar with the situation.

* Daimler AG's luxury brand division Mercedes-Benz has been found guilty of manipulating prices of after-sales services, China's official Xinhua news agency reported on Sunday, citing authorities in Jiangsu province.

* Telecom Italia is preparing to offer up to 7 billion euros ($9.4 billion) to outbid Spain's Telefonica in the race to acquire Vivendi's Brazilian broadband unit GVT, according to a Bloomberg report on Sunday.

* Global banks can no longer assume continuing access to the Federal Reserve's discount lending window as an element of their living wills. U.S. regulators set out the specific guidance in confidential letters on August 5 detailing why they recently rejected the living wills of the world's largest banks, the Financial Times reported. (on.ft.com/1lchY0m)

* Twenty-First Century Fox Inc, Rupert Murdoch's film and television company, is increasing production of local-language shows in foreign markets, part of an effort to boost international profit past $1 billion this fiscal year, Bloomberg reported. (bloom.bg/1lcn2BN)

* Sonic Automotive Inc, one of the United State's largest car-dealer companies, will open a chain of preowned-vehicle stores hoping to move on the turf of used-car retailer CarMax Inc, the Wall Street Journal reported. (on.wsj.com/1oInMiy)

* Scandinavian Tobacco Group, the world's largest pipe tobacco company, plans an initial public offering on the Nasdaq OMX Copenhagen exchange, daily business paper Borsen reported on Monday.

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For the Morning News Call-EMEA newsletter click on (Compiled by Shivam Srivastava in Bangalore; Editing by Biju Dwarakanath)

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