Ellison Sez EC Delays Costing Oracle $100 Million a Month

Filed in archive Business on September 24, 2009

Oracle CEO Larry Ellison says the European Commission's delaying of his company's acquisition of Sun Microsystems is costing Oracle $100 million a month.

"Ellison, speaking to former Motorola boss and sometime Sun prez and COO Ed Zander at a Silicon Valley networking event, said: 'The US took their time and deliberations and cleared it. They said it was overwhelmingly a pro-competitive deal. The Europeans have to do their job, but I think once they do their job, they’ll come to the same conclusion,'" writes The Register's John Oates.

"Oracle is seeking European approval for its takeover of Sun, one of the last hurdles for the $7.4 billion acquisition announced in April," writes Bloomberg's Rochelle Garner. "Earlier this month, the European Union said it’s taking a deeper look at the purchase because of 'serious doubts' about competition in the database market."

More here from Channel Register ... and more here from iTWire.