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EL - EssilorLuxottica SA News Story

€140.44 1.2  0.9%

Last Trade - 4:15pm

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £52.95bn
Enterprise Value £56.02bn
Revenue £12.54bn
Position in Universe 18th / 848

EU regulators to warn EssilorLuxottica about Dutch deal, sources say

Thu 4th June, 2020 2:53pm
BRUSSELS, June 4 (Reuters) - EU antitrust regulators will
warn EssilorLuxottica  ESLX.PA  that its 7.2-billion-euro ($8.1
billion) bid for Dutch opticians group GrandVision  GVNV.AS 
could harm competition, people familiar with the matter said on
Thursday.
    The European Commission will send a statement of objections
outlining its concerns in the coming days, a move which
typically ratchets up the pressure on companies to offer
concessions to allay such competition concerns.
    The deal would give EssilorLuxottica control of more than
7,000 GrandVision outlets across the world where it already
sells brands including Varilux lenses and Ray-Ban sunglasses.   
($1 = 0.8880 euros)

 (Reporting by Foo Yun Chee, editing by Robin Emmott)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
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