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Wednesday November 4, 11:40 AM
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Target says not in talks to sell Bangalore center
BANGALORE (Reuters) - U.S. discount retailer Target Corp on Wednesday denied a media report that said it was in talks to sell its captive technology centre in Bangalore.
The Economic Times had reported earlier that leading Indian outsourcers including Tata Consultancy (TCS.NS : 670.45 -17.45
) and Wipro (WIPRO.NS : 622.6 -6.7) were looking at acquiring the unit.
"Recent rumors about a sale are ridiculous speculation," Target Chief Executive Gregg Steinhafel said in a statement emailed to Reuters.
Steinhafel said the Bangalore center, which has 2,100 employees, plays an important role in the company's long-term strategy.
(Reporting by Ajay Kamalakaran in Bangalore; Editing by Lincoln Feast)
