Ray-Ban Maker Committed to GrandVision Deal

EssilorLuxottica, the maker of Ray-Ban sunglasses, remains committed to its proposed €7.3 billion-euro (US$8.3 billion) purchase of retailer GrandVision NV, people with knowledge of the matter said.

The Franco-Italian company still sees value in acquiring GrandVision’s network of eyewear shops across Europe, according to the people, who asked not to be identified because the information is private. It is focused on securing antitrust approvals for the deal, the people said.

This week EU regulators formally warned of their concerns that the planned multibillion euro merger of EssilorLuxottica and GrandVision could harm competition.

EU officials are worried the deal could lead to a reduction in competition in the wholesale market for eyewear and lenses and the retail supply of optical products. Regulators are also investigating whether the merger would lead to higher prices and a reduction of choice for consumers.

Full Content: Bloomberg

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