European approval for Oracle takeover of Sun Microsystems
LONDON (MarketWatch) -- The European Commission on Thursday approved Oracle Corp.'s acquisition of Sun Microsystems after regulators were assuaged over the fate of an open-source database.
The deal removes the last major impediment facing Oracle and its planned takoever of Sun though China and Russia still need to give their assent as well. U.S. regulators approved the deal months ago.
Oracle said it expects to close the transaction shortly and has scheduled a conference call for next week on its strategy for Sun.
The E.C. had been concerned over MySQL, which Sun bought in 2008. After Oracle agreed to maintain MySQL, the antitrust authorities gave their assent to the deal. Full Story