OOPS! - SUN - ORACLE Deal

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European antitrust regulators have formally objected to Oracle Corp.'s $7.4-billion US takeover of Sun Microsystems Inc., citing concerns that the takeover could hurt competition in the database market.

The uncertainty caused by the EU probe is costing Sun $100 million US a month, Oracle CEO Larry Ellison has said. When Sun released its first-quarter results last week, it revealed a revenue decline of 25 per cent, as competitors IBM and HP, among others, benefited from customer unease over Sun's future.