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

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

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". (

“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