Avaya Considering Sale Of All Or Part Of The Company

| About: Aviva plc (AV)

Both the Wall Street Journal and the New York Times are reporting that Avaya (NYSE:AV) is considering selling all or part of the telecommunications equipment company. The WSJ story listed Nortel (NT) and private equity firm Silver Lake Partners as possible buyers; the Times listed those two, as well as Cisco Systems (NASDAQ:CSCO). The Times story also says the company has hired Credit Suisse as an adviser.

The Times story also noted that “speculation about a deal for Avaya has percolated since Friday, when the company postponed its analyst meeting scheduled for Thursday.”

On Friday, Avaya shares rose 22 cents to $13.67, and then jumped another 33 cents to $14 in after hours trading. As of the close of the regular session Friday, Avaya had a market cap of about $6.2 billion.

AV 1-yr chart:
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