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Sun Microsystems: FBR Capital Mkts discusses ORCL/JAVA statement of rejection . Yesterday after the market close, JAVA said the European Commission (EC) issued a statement of objections relating to Oracle's proposal to acquire Sun. This move by the EC was expected as it was reportedly close to issuing the statement of objections last week. Oracle's plan to oppose the EC's statement of objections supports FBR's belief that Oracle will not agree to divest MySQL. Instead firm thinks Oracle could make some concessions or agree to some remedies that guarantees it will maintain an open source database option for customers. Firm continues to believe that it is more likely that Oracle's acquisition of Sun goes through. Firm agrees with Oracle's stance that there is healthy competition in the database market with three large players (Oracle, IBM, MSFT) and a handful of open source vendors that can fill the void that MySQL would leave (although we think Oracle will maintain MySQL to compete on the low end of the market).

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