UPDATE 1-Market Chatter-Corporate finance press digest

Mon Dec 24, 2012 11:46am IST

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Coal Mining In The Punjab

Coal Mining In The Punjab

In Choa Saidan Shah miners dig coal with crude pick axes and load it onto donkeys to be transported to the surface earning a team of 4 workers around $10 to be split between them.  Slideshow 

Dec 24 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* ITV Plc has bought a majority stake in US reality TV producer Gurney for $40 million, as part of a strategy to increase the size of its studio business. The broadcaster will buy 61.5 percent of Gurney Productions, with an option to buy the rest of the group in the next five years, the Telegraph reported. []

* United States computer firm Hewlett-Packard Co is expected to axe up to 200 members of the staff at its British subsidiary Autonomy, which it last month accused of "serious accounting improprieties", the Mail reported on Sunday. []

* Time Warner Cable Inc has made a bid to buy Cablevision Systems Corp's Optimum West business, Bloomberg reported, citing sources familiar with matter.

* T-Mobile Austria plans to appeal against the allocation of radio frequencies that will result from Hutchison Whampoa's takeover of Orange Austria, in a move that could derail the deal, a source familiar with the matter said.

* China's sovereign wealth fund is among a trio of Asian investors vying to buy an 800 million pound ($1.29 billion)London office campus from Blackstone Group LP, the US private equity firm, in what would be the UK's highest value property deal since the start of the financial crisis, the Financial Times reported. []

* Lanco Infratech Ltd has begun talks with JSW Energy Ltd and Adani Power Ltd to sell a power plant in Karnataka as banks pile pressure on debt-laden power companies to sell assets and improve cash flow, the Economic Times reported. []

* China has started to run checks on the more than 800 companies that have applied for domestic share sales, the latest move aimed at shortening the IPO waiting list and ease pressure on the stock market, the official China Securities Journal said.

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