Skip to main content

Oracle To Meet EU Legislators Over Sun Microsystems

Oracle is to meet European Union regulators early next month in a bid to persuade them to speed up the approval procedure for the pending acquisition of Sun Microsystems, according to Reuters.

The website is quoting two sources close to the matter saying that the EU regulators have set the 10th of December as the hearing date for Oracle to present its case for its proposed $7 billion acquisition of Sun Microsystems.

The European Commission has objected to the acquisition over the suspicion that the ongoing merger of the Sun Microsystems’ MySQL Database and other similar products from Oracle could dampen competition in the database domain.

The EU competition regulator earlier extended the deadline for evaluating Oracle's acquisition plans to January 27 from January 19 after the software maker had asked for some more time to deal with the anti-competition concerns surrounding the acquisition.

"Oracle has asked for a hearing which has been fixed for Dec. 10", Reuters quoted one of the two close sources as saying.

Incidentally, the proposed merger has already received a nod from the US Senate back in August. But it has been put on hold since the EU regulators raised serious concerns over the deal in September.

The hold has been afflicting significant monetary damages to Sun, which has reportedly been losing its value and reeling under new layoffs and perturbed financial picture.

Our Comments

Since buying Sun Microsystems for $7.4 billion in April 2009, Oracle's fortunes have been significantly improved. So much so that the price of its stock currently stands at their pre-recession levels although overall, the Nasdaq continue to outperform it.

Related Links

Oracle To Meet With EU To Push Forward On Acquisition

(Channel Web)

EU Hearing Set for Dec. 10 on Oracle Sun Deal

(Fox Business)

EU hearing on Oracle, Sun deal on Dec 10 - sources


EU Sets Hearing On Oracle/Sun For December 10


EU Hearing on Oracle-Sun Set for Dec. 10

(All Things Digital)

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.