Sun is losing about £60m a month as European regulators delay approving Oracle's purchase of the company, says Larry Ellison, CEO of Oracle, according to a Reuters report.

The report also quoted Ellison as saying, it would not be necessary for Oracle to divest Sun's MySQL database software business to satisfy European regulators who have expressed concerns about his company's ownership of the unit.

The European Commission is conducting an in-depth probe into whether competition would be stifled by the combination of Oracle's database and Sun's MySQL database.

"The longer this takes, the more money Sun is going to lose," the report quoted Ellison as saying.

Sun's revenues have tumbled since April when Oracle agreed to buy the company in April even as IBM and HP have launched campaigns to get Sun customers to migrate to their servers.

The report quoted Ellison as saying that conditions remain challenging and he did not foresee a rapid recovery.