MUMBAI (Reuters) - Japan’s NEC Corp is in initial talks to acquire Indian IT services firm Mphasis Ltd, majority owned by HP Inc, CNBC TV18 reported on Friday, citing unnamed sources.
In a statement to exchanges, Mphasis said the news report was "speculative". (bit.ly/1UByV0C)
“The company does not respond to the market rumors and speculative news reporting,” Mphasis said in the stock exchange disclosure.
Shares in Mphasis, in which HP has a 60.5 percent stake, rose 2.1 percent in the Mumbai market which was up 0.4 percent.
Writing by Himank Sharma; Editing by Subhranshu Sahu and Anand Basu