Market Chatter- Corporate finance press digest

Sun Aug 10, 2014 11:49pm EDT
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Aug 11 (Reuters) - The following corporate finance-related stories were reported by media:

* Royal Bank of Scotland Group PLC is shutting its controversial turnaround division and the two most senior executives who ran it are to leave the bank, a person familiar with the situation said on Friday.

* Snapchat Inc's financing talks with China's Alibaba Group Holding Ltd IPO-BABA.N are over, Bloomberg reported, citing people familiar with the matter.

* Tango, the mobile messaging company, is arranging a financing transaction that would value its business at around $1.5 billion, roughly one-third more than the valuation it received just five months ago, according to three people familiar with the situation.

* Private equity giant TPG Capital Management LP made a $3.1 billion approach for Australia's Treasury Wine Estates Ltd, a source said, setting the scene for a possible bid war for the world's No.2 winemaker with rival KKR & Co LP.   Continued...