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EU anti-trust regulators will meet Luxottica (LUX.MI) and Essilor (ESSI.PA) this week to express concerns about their plan to merge into a 46 billion-euro ($55.12 billion) global eyewear powerhouse, a person familiar with the matter said on Monday. The move suggests the European Commission wants concessions to address their concerns and that they could open an in-depth investigation if these are not given or seen as insufficient. Italy's Luxottica is the world's largest maker of spectacles, owning brands such as Ray-Ban and Oakley, and has 9,000 retail stores.
The proposed merger of Italian spectacles maker Luxottica (LUX.MI) with French lens manufacturer Essilor (ESSI.PA) will require thorough vetting by European antitrust authorities, the head of the bloc's competition watchdog said on Saturday. Luxottica, the world's biggest eyewear company whose brands include Ray-Ban and Oakley, agreed in January a merger with Essilor, the biggest lens maker, to create an industry giant with a market value of 47 billion euros ($56 billion), more than 15 billion euros in revenues and 144,000 staff. The EU Commission was officially notified on Aug. 22 .
As you walk into a sunglass store, you may be overwhelmed by the wide variety of brands you have...