July 22, 2014 / 6:10 AM / in 4 years

UPDATE 1-Market Chatter-Corporate finance press digest

(Adds items on Catalunya Banc, BC Partners, Alitalia, EMC Corp and Glenfidditch)

July 22 (Reuters) - The following corporate finance-related stories were reported by media:

* Embattled Los Angeles Clippers owner Donald Sterling on Monday met with former Microsoft Corp Chief Executive Officer Steve Ballmer to discuss a possible settlement over Sterling’s opposition to the $2 billion sale of the basketball team, a source close to the case said.

* Club Mediterranee’s board of directors will meet on Friday to decide whether to back a takeover offer for the holidays group from top shareholder Andrea Bonomi, according to a source close to the matter.

* Spain will sell Catalunya Banc, one of the last lenders still in state hands after the financial crisis, to the country’s second-biggest bank BBVA for just under 1.2 billion euros ($1.6 billion), said bank restructuring fund FROB on Monday.

* European private equity firm BC Partners has appointed Bank of America Merrill Lynch and Goldman Sachs to run the listing of its OVS Industry fashion chain, several sources familiar with the matter said on Monday.

* Poste Italiane will only invest more money in Alitalia if it avoids taking on the airline’s past liabilities, three sources close to the matter said on Monday, a condition likely to hamper a rescue deal with Etihad Airways.

* Activist investor Elliott Management Corp has taken a $1 billion stake in EMC Corp and plans to push it to spin off virtualization software unit VMware Inc, the Wall Street Journal reported, citing people familiar with the matter.

* Glenfiddich, the scotch whiskey business owned by William Grant & Sons, is looking to buy Drambuie, the brand owned by the MacKinnon family, in a 100 million pounds ($170.76 million)takeover, Sky News reported late Monday.

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