UPDATE: Ciena announced that both a US bankruptcy court and a Canadian court had approved its agreement with Nortel to purchase most of the bankrupt technology company's carrier Ethernet and optical networking assets.

Ciena made the announcement late Wednesday, the same day Nokia Siemens - Ciena's opponent in the bidding contest - said it filed an objection to the acquisition in a Delaware court (see earlier story below). Following the news, Ciena announced that both the US Bancruptcy Court for the District of Delaware and the Ontario Superior Court of Justice had approved the transaction.

END UPDATE

Dec. 02 news story:

Before champagne corks had a chance to fly in Ciena's celebration of its winning bid to buy carrier Ethernet and optical assets of the bankrupt Canadian telecom technology giant Nortel, Nokia Siemens lodged an official objection to the acquisition, Bloomberg reported.

Nokia Siemens - the so-far losing bidder in the auction for Nortel assets - filed an objection in a Delaware bankruptcy court, saying the convertible notes that are part of Ciena's offer should not be counted toward the bid's size, given the risk associated with them, Nokia Siemens spokesman Barry French told Bloomberg.

Ciena's bid consisted of $530 million in cash and $239 million in convertible notes. Nokia Siemens' original bid was $770 million in cash - a bid it has revised, currently offering $810 million in cash.

A Ciena spokesperson told DatacenterDynamics last week that the company expected the acquisition to propel it to a position among the world's top three carrier Ethernet equipment players. The market is currently dominated by Cisco, Alcatel-Lucent and Huawei.