EU antitrust regulators will investigate whether the planned €46 billion (US$54 billion) merger of Italian eyewear maker Luxottica and French lens manufacturer Essilor could drive out rivals from the market or push up prices.
The European Commission opened a full-scale investigation on Tuesday, September 26, saying the deal involving the two companies, both top-ranked in their sectors, may reduce competition in ophthalmic lenses and eyewear.
The move came after Luxottica and Essilor declined to offer concessions in a preliminary review. Reuters reported on September. 11 that the competition enforcer had expressed worries about the deal to the companies.
The Commission said it would decide by February 12 whether to clear the deal, but the two companies reaffirmed their goal of closing the merger at around the end of the year
Full Content: Economic Times
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