Larry Ellison cancels plan to sell up to 50 million Oracle shares

Oracle says its chairman and chief technology officer, Larry Ellison, has canceled a planned sale of up to 50 million shares in the software company. A regulatory filing disclosed the potential sale a day earlier and put its value at as much as $7.5 billion at recent prices, but it did not show that any shares had been sold or that all 50 million would be sold. Oracle said no shares were sold under the plan and that Ellison currently has no plans to sell Oracle stock. The cancellation removes the immediate prospect of a large sale by the company’s chairman, though Oracle did not explain the decision.