Avaya said in a statement Thursday that its review of potential strategic alternatives was "ongoing" and it remained in "advanced discussions." It previously said that the review would be finished by mid-September.
Shares of RingCentral rose 3%.
Avaya has also held discussions with private equity firms, including Searchlight Capital, about a reverse merger, Bloomberg reported.
Avaya said that there can be no assurances the review will result in any particular outcome, according to a statement.
Price: 11.45, Change: -1.62, Percent Change: -12.39
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