EU in talks with Oracle on PeopleSoft bid

The European Commission is still in talks with Oracle over its plan to take over rival software firm PeopleSoft.

The European Commission is still in talks with Oracle over its plan to take over rival software firm PeopleSoft.

Commissioner Mario Monti would like to take a decision on this before the end of his mandate in October, according to a Commission spokeswoman.

"But we have not yet restarted the clock, we are in touch with Oracle," she added.

She declined to comment on a report in the Financial Timesthat Oracle's bid would be approved, adding that the Commission was still in talks with Oracle.

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Earlier on Friday a source close to the situation said Oracle is likely to win clearance from the European Union antitrust authority for its hostile $7.7 billion takeover of PeopleSoft.