CNBC-TV18 has learnt that Avaya Global may have an open offer coming its way. Its parent company Avaya Inc is on the block and is in talk with various private equity players.
Analysts state that the buyer would gain a foothold in internet-based telephone systems. Avaya GlobalConnect provides communication systems, applications and services and is involved in the field of internet telephony. Avaya Inc currently holds 59.13% stake and it could lead to an open offer if the parent company is acquired. Avaya GlobalConnect was previously known as Tata Telecom. The Tata Group sold out its 25.1% shareholding to Avaya in 2004. Due to this, Avaya's holding increased from 25.5% to 50.6%. Avaya made a public offer to purchase 20% and acquired 8.53% from public. The name of the company was changed in October 2004 to Avaya GlobalConnect. CNBC-TV18 Disclaimer This information has not been provided to the stock exchanges, and is source-based. |
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