UPDATE 1-Market Chatter -- Corporate finance press digest
(Adds Fubon Financial, Deals of the day)
BANGALORE, Nov 11 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:
* Fubon Financial, parent of Taiwan's No.2 insurer, and China's State Development & Investment Corp will set up a 3 billion Chinese yuan ($440 million) private equity fund, the Commercial Times reported, citing a Fubon executive. [ID:nTP326988]
* British bus operator National Express Group Plc (NEX.L) is expected to launch its rights issue on Wednesday, the Financial Times reported. [ID:nN10339971]
* Indian software services firm Patni Computer Systems (PTNI.BO) has shortlisted four firms for a multi-million dollar acquisition, the Mint newspaper reported on Wednesday, quoting Chief Executive Officer Jeya Kumar. [ID:nBOM23110]
* China's Zhejiang Geely Holding Group, vying to buy Ford Motor's (F.N) loss-making Volvo unit, has developed a turnaround plan under which it hopes to double Volvo's sales to near 1 million vehicles a year, media reported. [ID:nHKG332947]
* China is drafting guidelines encouraging further consolidation of its steel industry, the China Securities Journal said. [ID:nSHA327411]
* Talbots Inc (TLB.N) has hired an adviser to help it refinance $224 million in debt, Bloomberg reported on Tuesday, and shares of the women's clothing retailer closed down more than 4 percent. [ID:nN10329751]
* United Technologies (UTX.N) is nearing a purchase of General Electric Co's (GE.N) fire alarm and security systems unit for at least $1.8 billion, and a deal could be announced as early as Thursday, Bloomberg reported on Tuesday. [ID:nN10338535]
For Deals of the day, please click on [ID:nSP389787] (Compiled by Shivani Singh; Editing by Jon Loades-Carter)
