April 9, 2012 / 4:25 AM / 6 years ago

Market Chatter - Corporate finance press digest

BANGALORE, April 9 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* Thomas Cook is close to securing a 1.2 billion pound ($1.90 billion) lifeline from its lenders to secure the future of the world’s oldest travel company that issued three profit warnings last year, the Sunday Times reported.

* Major shareholders in Tesco have called on the world’s third-biggest retailer to rethink its strategy and improve its struggling domestic market, the Sunday Times reported, three months after the group issued a shock profit warning.

* German carmaker Audi has won the backing from parent Volkswagen to build a new plant in Mexico, German magazine Der Spiegel reported on Friday.

* German sportswear group Adidas plans to slash the number of products it offers by a quarter to improve its profitability, chief executive Herbert Hainer told a newspaper.

* Packaged-ice maker Reddy Ice Holdings Inc is preparing to file for Chapter 11 bankruptcy and plans to hand ownership to a hedge fund holding the company’s debt, the Wall Street Journal reported, citing people familiar with the matter.

* India’s Reliance MediaWorks, controlled by billionaire Anil Ambani, is in talks to sell a stake in some of its movie theaters to Mexico’s multiplex operator, Cinepolis, the Business Standard newspaper reported on Monday.

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