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EC objects to Oracle takeover

Regulators queue up to kick Larry...

Oracle's hostile takeover of PeopleSoft suffered another blow late last week - the European Commission has objected to the deal.

The database giant said on Friday it had received a statement of objections from the EC. It said it was glad to know what the concerns were and would address them, according to CNN.

The US Department of Justice has already raised concerns about the takeover.

PeopleSoft welcomed the news. It said the action was consistent with that filed by the DOJ.

The company said: "The world's two leading antitrust enforcement agencies have now asserted that the combination of these two companies is anticompetitive. PeopleSoft understands that the European Commission's final decision is expected to be issued on or before May 11, 2004." ®

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