January 8, 2016 / 10:10 AM / in 2 years

Japan's NEC Corp in talks to buy India's Mphasis: CNBC TV18

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.

NEC Corp's logos are pictured during a news conference in Tokyo October 26, 2012. REUTERS/Yuriko Nakao

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

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