Updated with IBM's comments on the E.U.'s concerns
(ORCL - Get Report)
is entering into a crucial few days although E.U. officials are said to be optimistic before Thursday's hearing to discuss the proposed merger.
reports that despite the European Commission's much-publicized objections to the deal, competition commissioner
is hopeful of striking a compromise with database giant Oracle at the two-day hearing.
"I am still optimistic that we can reach a satisfactory outcome that will ensure there is no adverse impact on effective competition in the European market," said Kroes at a press conference on Wednesday, according to Reuters.
Sun shares crept up 3 cents, or 0.35%, to $8.52 shortly after the market opened on Wednesday. Oracle's stock dipped 4 cents, or 0.17%, to $21.87, mirroring the Nasdaq, which was down 0.21%.
E.C. officials recently issued a formal
as regulators voiced their
taking control of
Sun's MySQL technology, which has strong links to the open source community.
This prompted a
war of words
between Oracle and the
, with both sides
. In a statement released last month, Oracle vowed to oppose the E.C. and said that it was confident of its ability to clinch the sale with "unconditional clearance."
The software maker has also denied a
that it is willing to create a separate unit to house Sun's contentious
, which competes with Oracle,
(MSFT - Get Report)
(IBM - Get Report)
DB2, is one of Sun's core technologies. The MySQL server powers many open-source programs such as WordPress, and the E.C. is worried about behemoth Oracle controlling such a key technology.