Market Chatter-Corporate finance press digest

Reuters

Oct 8 (Reuters) - The following corporate finance-relatedstories were reported by media:

* Russian state-controlled telecoms operator Rostelecom aims to cut capital expenditure in the next four yearsand focus on internet services such as digital TV, businessdaily Vedomosti reported on Tuesday, citing sources.

* PHH Corp is exploring splitting up its mortgageand auto fleet leasing businesses, and selling each of theunits, three people familiar with the situation told Reuters onMonday.

* Spanish oil major Repsol is putting the brakes onthe planned sale of a 30 percent stake in Gas Natural Fenosa, sources said on Monday, facing the need to offer asteep discount to attract buyers.

* Spain's largest bank, Santander, is finalising adeal to buy a controlling stake in the country's largestconsumer finance business from department store chain El CorteIngles, sources said on Monday.

* Brazilian oil producer OGX Petróleo e Gas Participações SA is meeting with U.S. creditors in New York on Mondayin a bid to jump-start rescue talks while banks scamper toarrange an emergency loan for the company if no deal is reached,sources with knowledge of the situation told Reuters.

* China Resources Enterprise Ltd is set to launcha strategic review of its Hong Kong meat distribution unit, aperson familiar with the matter said, as it readies funds to bidfor tycoon Li Ka-shing's ParkNShop supermarket business.

* Britain's Vodafone plans to invest as much as $2billion to buy out minority shareholders in Vodafone India, theFinancial Times reported on Monday.

* Malaysia's southern state of Johor, which neighboursSingapore, will impose a higher processing fee on foreigners whobuy houses, state news agency Bernama reported, as it looks toboost revenues and rein in speculative buying.

* Vodafone Group Plc is not interested in biddingfor Brazil's Tim Participacoes SA, Bloomberg Newsreported, citing a person with direct knowledge of the company.Analysts at BTIG LLC and Brandes Investment Partners have citedVodafone as a potential suitor for Tim, Brazil's second-biggestwireless carrier. ()

* E-commerce site Zulily Inc plans to announce an initialpublic offering this week, as activity around consumer InternetIPOs heats up, the Wall Street Journal reported, citing peoplefamiliar with the matter. ()

* D.E. Shaw is closing its doors to new clients, joiningother large hedge funds that have stopped accepting cash intotheir flagship funds, the Financial Times reported on Monday.

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