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Avaya GlobalConnect, formerly Tata Telecom, has been witnessing some buying interest in the stock market of late. The stock has gained 25 per cent over a month. On Monday, after touching a high of Rs 368, it settled down at Rs 351.50, a drop of two per cent over Friday's close.

Wall Street Journal has reported that Avaya Inc, the management of the US parent, is reportedly in talks with private equity firms or other bidders to sell out fully or partially. The paper also reported that the company is in discussions with Silver Lake Partners and TPG Inc in this regard. The company is also in talks with Nortel Networks Corp and could attract other bidders too, the report added. According to market sources, this has implications for the domestic entity too, as Avaya Inc currently holds 59.13 per cent stake (as on March 31). They hope that a deal in parent company could lead to an open offer in the Indian entity.

K.S. Badri Narayanan

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