NEW YORK, Nov 9 (Reuters) - The European Commission objected to software company Oracle Corp's acquisition of computer maker Sun Microsystems Inc, citing a threat to competition, bringing the $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 U.S. 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 $100 million a month because of uncertainty about its future, as European antitrust regulators pursue an in-depth investigation of the deal.
(Reporting by Ritsuko Ando; editing by Andre Grenon) Keywords: ORACLE SUN/ (ritsuko.ando@thomsonreuters.com; +1 646 223 6084; Reuters Messaging: ritsuko.ando.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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 U.S. 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 $100 million a month because of uncertainty about its future, as European antitrust regulators pursue an in-depth investigation of the deal.
(Reporting by Ritsuko Ando; editing by Andre Grenon) Keywords: ORACLE SUN/ (ritsuko.ando@thomsonreuters.com; +1 646 223 6084; Reuters Messaging: ritsuko.ando.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.