The Competition Commission of Singapore (CCS) has initiated the second phase of a review on the proposed multibillion-dollar merger between French lens maker Essilor International and Italian eyewear manufacturer Luxottica Group.
On September 13, CCS received a notification for decision on whether the proposed merger would infringe the Competition Act. The phase 1 review was completed on November 13, but the CCS was unable to conclude that the proposed transaction would not raise competition concerns.
In particular, it found that the two companies are the biggest players in their respective markets, which means that a merger could give them substantial market power in the complementary segments of ophthalmic lenses, prescription frames and sunglasses.
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