Oracle co-president Charles Phillips reportedly said he plans to spend US$70 billion on acquisitions. Phillips’ comments were reported at a Fortune Brainstorm Tech conference in Aspen, Colorado. Oracle issued a “clarification” on Friday of Phillips’ reported comments. It was unclear whether Phillips referenced the $70 billion figure or five-year time frame. Oracle is currently engaged in absorbing its last big acquisition, Sun Microsystems, a purchase that moved it into the hardware business. Meanwhile, a US$3.25 billion debt offering indicates Oracle has more acquisitions in mind.”]