Larry Ellison blames European regulators for costly delay to the $7bn deal
V3.co.uk, 22 Sep 2009
Oracle chief executive Larry Ellison is claiming that Sun Microsystems is losing $100m (£61m) per month as European regulators ponder on whether the deal creates a monopoly.
Ellison wrote a cheque for $7bn (£4.28bn) to buy Sun, but the EU Competiton Commission said it wanted to investigate the deal in more detail because it might adversely affect open-source competition in the database market.
Ellison said it is unnecessary for Oracle to divest Sun's MySQL database software business to satisfy European regulators, who have expressed concerns about his company's ownership of the unit.
Oracle would not spin off the open-source MySQL, Ellison said, and he expects the deal will eventually be cleared by European regulators as it was in the US, without any conditions.
But he also said that the longer this takes the more money Sun will lose.
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