The combatants in one of the tech sector's most bitterly contested battles headed for Europe last week.

In the green corner: the PeopleSoft pugilist, Craig Conway. In the red corner (well not actually in the corner because he's at home under doctors' orders): Larry 'the duke of the database' Ellison.

"Oh, it's over. This fight is soooo over," crows Conway.

"You ain't seen nothing yet," growls Ellison. "You ain't even gonna see what I got coming your way!"

Would that we could just put Oracle and PeopleSoft in a room and let them slug it out, winner takes all. It's a solution that might just appeal to PeopleSoft.

It would put an end to a scrap that currently overshadows the tricky business of integrating its JD Edwards acquisition.

While PeopleSoft is very keen to claim that the fight is over, Oracle is lurking in the background, keeping its powder dry.

PeopleSoft has got itself ahead on points by virtue of some sound financial results. But its future forecasts are challenging to say the least.

It also relied heavily on large savings being made through its merger with JD Edwards. If it doesn't deliver in either of these two areas, this won't be the early round knockout Conway hopes for, but rope-a-dope time.

Oracle's main hope of success relies on either PeopleSoft's share price coming down, or raising its current bid. It then still faces the challenge of persuading PeopleSoft shareholders to back its takeover.

Current deliberations by competition authorities on both sides of the Atlantic have brought a temporary respite. But if Oracle's bid gets the nod, expect to see the next round of hostilities resume. And it's not going to get any prettier.

Of course, if the referees step-in and claim a no-contest, Oracle will have to look elsewhere for a scrap. But as it stands, neither side will want to throw in the towel.