EU extends deadline for review of Oracle-Sun deal

European regulators have extended deadline for review of Oracle's acquisition of Sun, giving the business software maker more time to make its case.
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European regulators have agreed to extend the deadline to review Oracle's acquisition of Sun Microsystems, giving Oracle some more time to develop arguments in reply to Europe's concerns, according to Reuters.

Earlier this month, the European Commission filed a statement of objections, a first step toward blocking the US$7.4 billion deal, over concerns about MySQL. Oracle immediately fired back, issuing a statement that said European regulators have a "profound misunderstanding of both database competition and open source dynamics".

The same day, the U.S. Department of Justice, which has already given its blessing to the deal, pretty much backed Oracle and offered reasons why the United States did not see the deal as anticompetitive.

Oracle has said that delays are becoming costly--to the tune of US$100 million per month--and are further damaging the economies through job losses. Sun has had to put restructuring plans in place to stay alive while everyone waits for European approval, most recently by laying off 3,000 employees.

Oracle has said that Sun's customers "universally support this merger and do not benefit from the continued uncertainty and delay". The company said evidence against the Commission's position is overwhelming, and that it lacks any credible theory or evidence of competitive harm.

Read more of "EU extends deadline for review of Oracle-Sun deal" at ZDNet.

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