Published on Tue, Nov 10, 2009 at 09:59 | Source : Reuters
Updated at Tue, Nov 10, 2009 at 11:25
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
European Commission objects to Sun-Oracle deal
The European Commission objected to software company Oracle Corp's acquisition of computer maker Sun Microsystems Inc, citing a threat to competition, bringing the USD 7 billion deal into question.
The European Commission objected to software company Oracle Corp's acquisition of computer maker Sun Microsystems Inc, citing a threat to competition, bringing the USD 7 billion deal into question.
The Commission said on Monday that a combination of Sun's MySQL database product and Oracle's products could hurt competition in the database market, Sun revealed in a filing with the US Securities and Exchange Commission.
Oracle said the Commission's objection "reveals a profound misunderstanding" and that it "plans to vigorously oppose the Commission's Statement of Objections".
Oracle Chief Executive Larry Ellison recently said Sun is losing about USD 100 million a month because of uncertainty about its future, as European antitrust regulators pursue an in-depth investigation of the deal.
