EU regulators to investigate EssilorLuxottica's 7.2 billion euro Dutch deal
Reuters
Published Feb 06, 2020 18:21
EU regulators to investigate EssilorLuxottica's 7.2 billion euro Dutch deal
BRUSSELS (Reuters) - EU antitrust regulators opened on Thursday an in-depth investigation into Ray-Ban maker EssilorLuxottica's (PA:ESLX) 7.2 billion euro (£6.1 billion) bid for Dutch opticians group GrandVision (AS:GVNV), saying the deal could push up prices.
The European Commission said the deal between the world's largest supplier of eyewear and Europe's largest optical retail chain could also reduce competition, confirming a Reuters story on Jan. 31. It will decide by June 22 whether to clear or block the deal.
"In this consolidating market, we need to carefully assess whether the proposed merger would lead to higher prices or reduced choices for consumers when they visit their local optician," European Competition Commissioner Margrethe Vestager said in a statement.
Retailers and rival lens makers have voiced concerns to the EU watchdog, sources had told Reuters. EssilorLuxottica was formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.