UPDATE 1-Market Chatter-Corporate finance press digest
Oct 25 (Reuters) - The following corporate finance-related stories were reported by media on Thursday: * General Electric Co held takeover talks with New Jersey's Hudson City Bancorp Inc shortly before the lender agreed to a $3.7 billion sale to M&T Bank Corp (MTB) in August, reported Bloomberg citing three people with knowledge of the matter.* Private real estate investor Starwood Capital Group will buy LNR Property LLC, the largest U.S. special servicer of sour mortgages, for more than $1 billion, the Wall Street Journal reported, citing two people with knowledge of the deal. * China National Gold Group Corp is moving closer to making a formal offer for Barrick Gold Corp's 74 per cent stake in its London-listed African subsidiary, underlining growing interest from Chinese companies in acquiring gold assets globally, reported the Financial Times.* Guardian News & Media, the publisher of The Guardian and The Observer, has proposed making large-scale compulsory job cuts among its newspaper journalists, the Telegraph reported.* Scandinavian airline SAS AB will ask employees to take pay cuts of between 15 and 25 percent as part of a plan to slash costs and return to profit, Danish newspaper Berlingske reported, citing unnamed sources. * MTS, Russia's largest mobile operator, will acquire a quarter of a domestic bank for about 100 million pounds ($160.29 million) as part of a strategy to expand further into financial services, the Financial Times reported.* Admiralty Arch, one of London's most distinctive buildings, has been sold to Rafael Serrano, a Spanish investor, for close to 60 million pounds ($96.18 million), the Financial Times reported.
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