March 5, 2014 / 4:10 AM / 4 years ago

Market Chatter- Corporate finance press digest

March 5 (Reuters) - The following corporate finance-related stories were reported by media:

* Facebook Inc is in talks to buy drone maker Titan Aerospace for $60 million, which will enable the world’s No.1 Internet social network to beam wireless Internet access to consumers in undeveloped parts of the world, according to technology blog TechCrunch.

* Bouygues will submit an offer on Wednesday to buy Vivendi’s telecom unit SFR and will make pledges on jobs and network investments to win support for its bid, two people close to the situation said on Tuesday.

* Walmart Stores, the world’s biggest retailer, is quietly readying a major e-retailing push in India with an electronic marketplace business model akin to that used by US-based Amazon and eBay Inc, the Economic Times reported, citing sources familiar with plans. ()

* The ruling family of Ras Al Khaimah, one of the seven United Arab Emirates, is exploring a sale of its shares in Ras Al Khaimah Ceramics, a major maker of ceramic wall and floor tiles and sanitary ware, a source familiar with the matter said.

* Fairfax Financial and Wilbur Ross received sufficient bids to sell a 6.4 percent stake in Bank of Ireland on Tuesday at a discount of up to 10 percent of Monday’s closing share price, a source familiar with the transaction said.

* The Tata group and its Japanese partner, NTT Docomo , are learnt to be finalising modalities under which the latter will stay invested in Tata Teleservices Ltd and the two will put together a two-three-year business plan for the telecom joint venture, the Business Standard reported. ()

* Italian mid-sized lender Veneto Banca will discuss a possible rights issue among options to boost its capital base above regulatory thresholds at a board meeting later on Tuesday, sources close to the matter told Reuters.

* State-run financial institutions Life Insurance Corporation, General Insurance Corporation of India and Oriental Insurance are unlikely to take part in UK drug maker GlaxoSmithKline’s ongoing open offer to shareholders of its Indian subsidiary, GlaxoSmithKline Pharmaceuticals, the Economic Times reported, citing insurance company officials.

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