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Submission + - EU Formally Objects to Oracle's Sun Buy-out

BBCWatcher writes: More bad news in the Oracle-Sun nuptuals. Numerous press outlets (here, here, here, etc.) report that the European Commission has lodged formal objections to Oracle's planned $7.4B acquisition of Sun Microsystems. Previously the Commission planned their final ruling for January 19, 2010, but the formal objections now cast doubt on that deadline or whether Oracle can satisfy anti-trust regulators anytime soon (or ever). Says Oracle in a statement: "The commission's statement of objections reveals a profound misunderstanding of both database competition and open-source dynamics. It is well understood by those knowledgeable about open-source software that because MySQL is open source, it cannot be controlled by anyone. That is the whole point of open source." Oracle and Sun are worried about the delay, as Sun is hemorrhaging customers and employees amid the increasing uncertainty. Sun just reported fiscal 1Q2010 earnings, with total sales falling 25% and server sales plunging 31.4%. Oracle could walk away from Sun for $260M, but reports suggest no such exit at this time. Traders are still getting nervous: Sun stock has fallen away from Oracle's bid price recently.
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EU Formally Objects to Oracle's Sun Buy-out

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