November 29, 2013 / 6:20 AM / 4 years ago

UPDATE 1-Market Chatter-Corporate finance press digest

Nov 29 (Reuters) - The following corporate finance-related stories were reported by media:

* Swedish utility Vattenfall is considering the sale of its Continental Europe and UK operations next year to focus on its home market and reduce debt, four people familiar with the situation said.

* Swiss lender UBS is scaling back corporate advisory and investment banking services for ultra-rich clients in some emerging-market countries to reduce overlap with other departments, three sources familiar with the plan said.

* Chile’s CorpBanca is in takeover talks with Brazilian bank Itau Unibanco, Chile’s BCI, Canada’s Scotiabank and Spain’s BBVA as its owner, Alvaro Saieh, seeks to create a larger regional player, local online news site El Mostrador said on Thursday.

* Germany utility E.ON has decided to sell its Italian business and will shortly begin the search for a buyer, a German newspaper reported on Thursday, citing company sources.

* Anbang Insurance Group is among companies considering bids for Wing Hang Bank Ltd, Hong Kong’s second-largest family-run lender, which has a market value of $4.5 billion, Bloomberg reported, citing four people with knowledge of the matter. ()

* Five insurers, including Metlife Inc and Manulife Financial Corp, have submitted final bids to have their products distributed by Citigroup in Asia, a deal estimated to generate more than $10 billion in revenue over 15 years, people familiar with the matter told Reuters.

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