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UPDATE 1-Market Chatter -- Corporate finance press digest

(Adds Mick Ashley, Warner Bros, Collin Stewart & American Apparel; Deletes Britvic, FSA)

LONDON, Dec 19 (Reuters) - The following corporate finance-related stories involving U.S. and European companies were reported on Tuesday:

** Retail billionaire Mick Ashley has made the latest addition to his sports empire with the purchase of the Streetwise Sports chain for an undisclosed amount, the Daily Telegraph said.

** American Apparel Inc.’s founder has decided to sell the privately held casual clothing chain for $382.5 million, the New York Times reported.

** Warner Bros.'s film studio, a unit of Time Warner Inc. TWX.N, is expected to announce a deal on Tuesday to sell and distribute in North America videogames developed by UK-based Codemaster, the Wall Street Journal reported on its Web site.

** The demerger of the broker Collins Stewart from the interdealer broker Tullet Prebon completes on Tuesday as shares in the two entities begin trading, the Daily Telegraph said.

** Anglo-Dutch steelmaker Corus Group Plc CS.L is to hold an emergency general meeting on Wednesday to discuss competing bids from the Indian group Tata Steel TISC.BO and Brazilian rival CSN SID.N, The Independent said.

The paper said traders believe Tata is poised to walk away from the deal, leaving CSN’s 4.9 billion pound ($9.6 billion) offer as the only bid left on the table.

** MAN AG MANG.DE Chief Executive Hakan Samuelsson said any deal to buy Swedish rival Scania SCVb.ST would be more like a merger of equals than a takeover, the Wall Street Journal reported in its online edition.

** Securitas Systems SYSIb.ST and United Technologies Corp UTX.N have shown an interest in Rentokil Initial's RTO.L electronics business, which the business services firm is hoping to sell for up to 550 million pounds, the Financial Times said.

** Japanese supermarket operator Daiei Inc. 8263.T will sell its shares in a unit that leases commercial boutique space for 30 to 35 billion yen ($250-$300 million), the Nikkei business daily reported.

Trading house Marubeni Corp. 8002.T and real estate developer Tokyu Land Corp. 8815.T will buy Daiei's wholly owned unit Opa Co., with Marubeni taking a stake of 51-60 percent and Tokyu Land taking the remainder, the paper said.

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