EC sends Oracle list of objections to PeopleSoft deal

The European Commission confirmed Monday that it has sent a statement of objections to software maker Oracle, detailing reasons why its planned takeover of rival PeopleSoft will harm competition in the European Union (EU).

Unless Oracle can resolve the issues identified by the regulator, its deal will be blocked in Europe, as it was in recent weeks in the U.S.

Commission spokeswoman Amelia Torres said that sending the statement of objections is "a normal part of the procedure in merger reviews, it is not a final decision."

She added that Oracle must now reply in writing to the Commission's objections. Then it may request an oral hearing with the regulator.

"Only after these steps, and after we consult competition regulators from the 15 (EU) member states, will we take a final decision," Torres said.

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