The federal regulators are planning to allocate a Financial Support Direction in order to control as many as 25 companies in the Nortel group across Canada, the US, Europe and Africa.

A vocal group of Nortel employees has been defeated in its first fight in Ontario court Wednesday. Superior Court Justice Geoffrey Morawetz delayed the proceedings for 45 days.

On December 18, Avaya officially closed its takeover of Nortel's enterprise business, and earlier this week, the company shared the "integrated product roadmap" that it would follow. Also, the firm said that going forward; both VARs from Avaya and Nortel would be effectively utilized.

Swedish wireless equipment maker Ericsson has won an auction of the wireless assets of Nortel Networks by agreeing to pay US$1.13 billion for the Canadian company's CDMA business, making rival Nokia to leave the arena.

Speaking on the rumors that Ericsson would part with Sony, Ericsson's CFO Hans Vestberg said the company would not end its joint venture with Sony.