CHRONOLOGY: Key dates in the history of Nortel

(Reuters) - Sweden's Ericsson has won an auction for the wireless assets of bankrupt Nortel Networks Corp, paying $1.13 billion for the crown jewels of the one-time Canadian telecom star.

The deal virtually assures that Nortel, once North America's largest telecommunications equipment maker, will be dismantled rather than emerge from bankruptcy protection in a slimmed-down form.

Here are some key dates in the company's history:

July 25 - Ericsson is declared winner of an auction for Nortel's wireless assets with a $1.13 billion bid.

July 24 - Auction for Nortel's wireless business begins in New York, with a winner expected to be announced at any time.

July 23 - Ericsson says it submitted bid for Nortel's wireless assets but did not put a value on the offer. The Globe and Mail newspaper reported its value at $730 million.

July 21 - MatlinPatterson, a private U.S. equity firm and Nortel creditor, says it bid $725 million for wireless assets.

July 20, 2009 - Research In Motion, the company that makes the BlackBerry smartphone, says it has effectively been blocked from making a $1.1 billion bid for Nortel's wireless business.

July 20, 2009 - Nortel agrees to Avaya's $475 million bid for its enterprise unit, which makes communication gear for companies.

July 15, 2009 - Workers in France threaten to blow up their factory to force management into talks over layoff terms.

June 19, 2009 - Nortel says it will sell its wireless unit to Nokia Siemens Networks for $650 million. One week later, Nortel creditors and suppliers file objections in court.

June 18, 2009 - At a parliamentary hearing, CEO Zafirovski defends paying millions of dollars in retention bonuses to executives while cutting severance for many laid-off workers.

May 11, 2009 - Nortel's first-quarter loss swells to $507 million as revenue falls 37 percent to $1.7 billion.

March 2, 2009 - Nortel loses $2.14 billion, with more than $2 billion in writedowns; quarterly sales fall 15 percent to $2.7 billion.

February 25, 2009 - Nortel cuts 3,200 more jobs, about 10 percent of its 30,000 staff. Laid-off staff get no severance payout.

January 14, 2009 - Nortel files bankruptcy protection.

November 10, 2008 - Nortel announces 1,300 layoffs, a salary freeze and a review of its real estate after posting a $3.4 billion quarterly loss.

September 17, 2008 - Nortel cuts revenue forecast, plans another round of restructuring and the sale of its Metro Ethernet Networks business.

February 27, 2008 - Nortel says it will cut 2,100 jobs as it faces persistently slow demand for its products.

October 15, 2007 - Nortel pays $35 million to settle civil charges filed by the SEC related to its accounting scandal.

February 7, 2007 - Nortel slashes 3,900 jobs and shifts 1,000 positions to lower-cost locations such as China and India.

February 8, 2006 - Nortel says it will pay $2.47 billion to settle two class-action suits from its accounting scandal.

October 17, 2005 - Motorola's No. 2 executive, Mike Zafirovski, is appointed CEO, promising renewed growth and focus.

January 11, 2005 - Nortel restates results and says 12 senior executives will repay $8.6 million of bonuses.

September 30, 2004 - Nortel cuts almost 10 percent of its staff, 3,250 jobs, and vacates offices worldwide.

June 29, 2004 - Nortel exits the manufacturing business, sells plants to Flextronics and transfers 2,500 staff.

April 5, 2004 - The U.S. Securities and Exchange Commission launches a formal investigation into Nortel's accounting.

March 15, 2004 - Nortel says it will likely restate results for a second time and delay filing its annual report.

October 23, 2003 - Nortel reports a quarterly profit, but says it will restate results going back to 2000.

June 4, 2002 - Nortel shares collapse to decade-long lows on concerns a new financing will further dilute its stock. Cash-hungry Nortel raises $1.49 billion June 7.

May 29, 2002 - Nortel plans to cut 3,500 jobs and sell more assets as it pares its revenue forecast.

February 15, 2001 - Nortel halves 2001 earnings and sales forecast, blaming severe erosion in U.S. economic conditions. The warning triggers a 33 percent drop in its stock and class-action lawsuits.

July 2000 -- Nortel shares reach a high of C$124.50, or more than C$1,100 each if adjusted for a stock consolidation in 2006, giving it a market cap of more than $250 billion.

May 1, 2000 -- BCE Inc, Canada's biggest telecommunications group, completes spin-off to shareholders of 35 percent stake in Nortel, worth about C$88.5 billion ($81 billion)

Sept 1998 -- Company changes name to Nortel Networks from Northern Telecom underlining its shift toward data and multimedia networking from telecommunications.

(Reporting by Susan Taylor)