Page last updated at 16:00 GMT, Thursday, 21 January 2010

EU backs Oracle's takeover of Sun

Oracle headquarters
Oracle is the world's biggest database software maker

The European Union has approved Oracle's $7.4bn (£4.6bn) takeover of fellow computer firm Sun Microsystems.

EU competition commissioner Neelie Kroes said she had cleared the deal because "competition and innovation will be preserved".

Her decision comes after the EU launched an investigation into the takeover in September.

Oracle said it now expected to complete the deal "shortly". US authorities have already backed the takeover.

It still requires the backing of competition authorities in China and Russia, but Oracle said it expected this to be forthcoming.

Oracle first announced it had agreed a deal to buy Sun in April of last year.



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