MUMBAI: State-run Corporation Bank denied a newspaper report on Monday it was in takeover talks with Pune-based Rupee Co-operative Bank to expand in the state of Maharashtra. "The report is absolutely wrong. We were earlier looking at it (but) now we don't have any interest in the co-operative," Ramnath Pradeep, chairman and managing director, told Reuters over the telephone. "In Maharashtra, there are no other avenues, only by way of branches I'm going ahead (with expansion)." According to the report, the state-run lender is in talks to acquire the Pune-based cooperative bank to expand its footprint in Maharashtra. Pradeep said he had received a proposal from a consultant for a buyout but the bank did not consider it. Shares in Corporation Bank were little changed on Monday at 557.4 rupees in a weak Mumbai market.
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