content: <HTML><HEAD>
  <TITLE>Current Report on Form 8-K</TITLE>
  </HEAD>
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  <HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left"><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5" COLOR="#000000"><B>UNITED STATES </B></FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5" COLOR="#000000"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
  FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>Washington, DC 20549 </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE COLOR="#000000"><P
  STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5" COLOR="#000000"><B>FORM 8-K </B></FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE COLOR="#000000"><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"
  ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>CURRENT REPORT </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>Pursuant to Section 13 or 15(d)
  </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3" COLOR="#000000"><B>of the Securities Exchange Act of 1934 </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>May 12, 2003 </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
  FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Date of Report (date of earliest event reported) </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE COLOR="#000000"><P
  STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="6" COLOR="#000000"><B>AVANEX CORPORATION </B></FONT></P><P
  STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>(Exact name of Registrant as specified in its charter) </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  SIZE="1">&nbsp;</FONT></P><HR WIDTH="21%" SIZE="1" NOSHADE COLOR="#000000"><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">
  
  <TR>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Delaware</B></FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>000-29175</B></FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>94-3285348</B></FONT></P></TD></TR>
  <TR>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>(State or other jurisdiction of<BR>incorporation or organization)</B></FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>(Commission File Number)</B></FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" ALIGN="center" WIDTH="31%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>(I.R.S. Employer<BR>Identification Number)</B></FONT></P></TD></TR>
  </TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>40919
  Encyclopedia Circle </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Fremont, California 94538 </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"
  ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>(Address of principal executive offices) </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"
  ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>(510) 897-4188 </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>(Registrant&#146;s telephone
  number, including area code) </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>(Former name
  or former address, if changed since last report) </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left">
  
  <p Style='page-break-before:always'>
  <HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
  
  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Item 5.&nbsp;&nbsp;Other
  Events </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">On May 12, 2003, Avanex Corporation,
  a Delaware corporation (the &#147;Company&#148;), entered into a Share Acquisition and Asset Purchase Agreement (the &#147;Purchase Agreement&#148;) by and between the Company, Alcatel, a <I>soci&eacute;t&eacute; anonyme</I> organized under the laws
  of the Republic of France (&#147;Alcatel&#148;), and Corning Incorporated, a Delaware corporation (&#147;Corning&#148;). Pursuant to the Purchase Agreement, the Company will acquire all of the issued and outstanding share capital of Alcatel
  Optronics France SA, a <I>soci&eacute;t&eacute; anonyme</I> organized under the laws of the Republic of France and a subsidiary indirectly owned by Alcatel (&#147;Alcatel Optronics&#148;), and Alcatel will assign certain intellectual property rights
  to the Company (the &#147;Share Acquisition&#148;). In addition, the Company will acquire certain assets from Corning relating to its optical communications products (the &#147;Asset Purchase&#148;). In consideration for the above, the Company will
  issue shares of its Common Stock to Alcatel and to Corning (the &#147;Share Issuances&#148;). Immediately following the Share Issuances, Alcatel will own 28% of the outstanding shares of the Company&#146;s Common Stock and Corning will own 17% of
  the outstanding shares of the Company&#146;s Common Stock. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2"
  COLOR="#000000">The consummation of the Share Acquisition and the Asset Purchase are contingent upon approval of the Share Issuance by the stockholders of the Company, regulatory approvals and other closing conditions set forth in the Purchase
  Agreement. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">In connection with the Purchase
  Agreement, certain stockholders of the Company have entered into voting agreements with Alcatel and Corning. The voting agreements provide that these stockholders will vote their shares of Company Common Stock in favor of approval of the Share
  Issuance and will vote against any action or agreement that would reasonably be expected to result in the failure to satisfy any conditions to the Share Issuance. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">The foregoing description of the Purchase Agreement and the Share Issuance does not purport to be complete
  and is qualified in its entirety by the terms and conditions of the Purchase Agreement, which is filed as Exhibit 2.1 hereto and is incorporated herein by reference. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">On May 12, 2003, the Company issued a press release announcing that it had entered into the Purchase
  Agreement. The press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
  FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Item 7.&nbsp;&nbsp;Financial Statements and Exhibits </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR>
  <TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>(c)</B></FONT></TD>
  <TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>Exhibits</B> </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR>
  <TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD WIDTH="7%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">2.1</FONT></TD>
  <TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Share Acquisition and Asset Purchase Agreement, dated as of May 12, 2003, by and between Avanex Corporation, a Delaware corporation, Alcatel, a
  <I>soci&eacute;t&eacute; anonyme</I> organized under the laws of the Republic of France, and Corning Incorporated, a Delaware corporation. </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
  <TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
  <TR>
  <TD WIDTH="8%"><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD WIDTH="7%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">99.1</FONT></TD>
  <TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Press release of Avanex Corporation issued on May 12, 2003. </FONT></TD></TR></TABLE>
  
  <p Style='page-break-before:always'>
  <HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
  
  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>SIGNATURES
  </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Pursuant to the requirements of the
  Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><DIV
  STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right">
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0">
  
  <TR>
  <TD VALIGN="top" COLSPAN="3" WIDTH="37%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>AVANEX CORPORATION</B></FONT></P></TD></TR>
  <TR>
  <TD HEIGHT="16"></TD></TR>
  <TR>
  <TD VALIGN="top" WIDTH="2%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">By:</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="top" ALIGN="center" WIDTH="37%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">/s/&nbsp;&nbsp;&nbsp;&nbsp;A<SMALL>NTHONY</SMALL> A.
  F<SMALL>LORENCE&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</SMALL></FONT></P><HR SIZE="1" NOSHADE COLOR="#000000" ALIGN="left"></TD></TR>
  <TR>
  <TD><FONT SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;</FONT></TD>
  <TD VALIGN="bottom" ALIGN="center" WIDTH="37%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Anthony A. Florence</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
  ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B><I>Senior Vice President, Corporate Affairs</I></B></FONT></P></TD></TR>
  </TABLE></DIV><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2"
  COLOR="#000000">Date:&nbsp;&nbsp;May 16, 2003 </FONT></P>
  
  <p Style='page-break-before:always'>
  <HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
  
  <P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000"><B>EXHIBIT
  INDEX </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">
  
  <TR>
  <TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Exhibit&nbsp;No.</B></FONT></P><HR SIZE="1" NOSHADE COLOR="#000000"></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="89%"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="1" COLOR="#000000"><B>Description</B></FONT></P><HR WIDTH="65" SIZE="1" NOSHADE ALIGN="left" COLOR="#000000"></TD></TR>
  <TR>
  <TD HEIGHT="5"></TD></TR>
  <TR>
  <TD VALIGN="top" ALIGN="right" WIDTH="10%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">2.1</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="89%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Share Acquisition and Asset Purchase Agreement, dated as of May 12, 2003, by and
  between Avanex Corporation, a Delaware corporation, Alcatel, a <I>soci&eacute;t&eacute; anonyme</I> organized under the laws of the Republic of France, and Corning Incorporated, a Delaware corporation.</FONT></P></TD></TR>
  <TR>
  <TD HEIGHT="5"></TD></TR>
  <TR>
  <TD VALIGN="top" ALIGN="right" WIDTH="10%"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">99.1</FONT></P></TD>
  <TD VALIGN="bottom" WIDTH="3%"><FONT FACE="Times New Roman" SIZE="1">&nbsp;&nbsp;</FONT></TD>
  <TD VALIGN="bottom" WIDTH="89%"> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="Times New Roman" SIZE="2" COLOR="#000000">Press release of Avanex Corporation issued on May 12, 2003.</FONT></P></TD></TR>
  </TABLE>
  </BODY></HTML>
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metadata_filer: {"company-data": {"conformed-name": "AVANEX CORP", "cik": "0001056794", "assigned-sic": "3674", "irs-number": "943285348", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-29175", "film-number": "03708626"}, "business-address": {"street1": "40919 ENCYCLOPEDIA CIRCLE", "city": "FREMONT", "state": "CA", "zip": "94538", "phone": "5108974172"}, "mail-address": {"street1": "40919 ENCYCLOPEDIA CIRCLE", "city": "FREMONT", "state": "CA", "zip": "94538"}}
text: Current Report on Form 8-K
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, DC 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d)
  of the Securities Exchange Act of 1934
  May 12, 2003
  Date of Report (date of earliest event reported)
  AVANEX CORPORATION
  (Exact name of Registrant as specified in its charter)
  Delaware
  000-29175
  94-3285348
  (State or other jurisdiction of
  incorporation or organization)
  (Commission File Number)
  (I.R.S. Employer
  Identification Number)
  40919
  Encyclopedia Circle
  Fremont, California 94538
  (Address of principal executive offices)
  (510) 897-4188
  (Registrant's telephone
  number, including area code)
  (Former name
  or former address, if changed since last report)
  Item 5.  Other
  Events
  On May 12, 2003, Avanex Corporation,
  a Delaware corporation (the "Company"), entered into a Share Acquisition and Asset Purchase Agreement (the "Purchase Agreement") by and between the Company, Alcatel, a
  société anonyme
  organized under the laws
  of the Republic of France ("Alcatel"), and Corning Incorporated, a Delaware corporation ("Corning"). Pursuant to the Purchase Agreement, the Company will acquire all of the issued and outstanding share capital of Alcatel
  Optronics France SA, a
  société anonyme
  organized under the laws of the Republic of France and a subsidiary indirectly owned by Alcatel ("Alcatel Optronics"), and Alcatel will assign certain intellectual property rights
  to the Company (the "Share Acquisition"). In addition, the Company will acquire certain assets from Corning relating to its optical communications products (the "Asset Purchase"). In consideration for the above, the Company will
  issue shares of its Common Stock to Alcatel and to Corning (the "Share Issuances"). Immediately following the Share Issuances, Alcatel will own 28% of the outstanding shares of the Company's Common Stock and Corning will own 17% of
  the outstanding shares of the Company's Common Stock.
  The consummation of the Share Acquisition and the Asset Purchase are contingent upon approval of the Share Issuance by the stockholders of the Company, regulatory approvals and other closing conditions set forth in the Purchase
  Agreement.
  In connection with the Purchase
  Agreement, certain stockholders of the Company have entered into voting agreements with Alcatel and Corning. The voting agreements provide that these stockholders will vote their shares of Company Common Stock in favor of approval of the Share
  Issuance and will vote against any action or agreement that would reasonably be expected to result in the failure to satisfy any conditions to the Share Issuance.
  The foregoing description of the Purchase Agreement and the Share Issuance does not purport to be complete
  and is qualified in its entirety by the terms and conditions of the Purchase Agreement, which is filed as Exhibit 2.1 hereto and is incorporated herein by reference.
  On May 12, 2003, the Company issued a press release announcing that it had entered into the Purchase
  Agreement. The press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
  Item 7.  Financial Statements and Exhibits
  (c)
  Exhibits
  2.1
  Share Acquisition and Asset Purchase Agreement, dated as of May 12, 2003, by and between Avanex Corporation, a Delaware corporation, Alcatel, a
  société anonyme
  organized under the laws of the Republic of France, and Corning Incorporated, a Delaware corporation.
  99.1
  Press release of Avanex Corporation issued on May 12, 2003.
  SIGNATURES
  Pursuant to the requirements of the
  Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
  AVANEX CORPORATION
  By:
  /s/    A
  NTHONY
  A.
  F
  LORENCE
  Anthony A. Florence
  Senior Vice President, Corporate Affairs
  Date:  May 16, 2003
  EXHIBIT
  INDEX
  Exhibit No.
  Description
  2.1
  Share Acquisition and Asset Purchase Agreement, dated as of May 12, 2003, by and
  between Avanex Corporation, a Delaware corporation, Alcatel, a
  société anonyme
  organized under the laws of the Republic of France, and Corning Incorporated, a Delaware corporation.
  99.1
  Press release of Avanex Corporation issued on May 12, 2003.