EU regulators probe Essilor, Luxottica merger plan
By THE ASSOCIATED PRESS, BRUSSELS — Sep 26, 2017, 11:09 AM ET
European Union antitrust regulators are probing the planned merger between eyewear maker Luxottica and lens manufacturer Essilor amid concerns the move could stifle competition.
The European Commission, which polices EU competition rules, said Tuesday it "has concerns that the merger may reduce competition for ophthalmic lenses."
France-based Essilor is the largest supplier of ophthalmiclenses world-wide. Italy'sLuxottica is the top eyewear supplier, with brands like Ray-Ban and Oakley.
Competition Commissioner Margrethe Vestager said that with halfof Europeans using glasses the EU must "carefully assess whether theproposed merger would lead to higher prices or reduced choices for opticiansand ultimately consumers."
The concern is that the two could use Luxottica's powerfulbrands to convince opticians to buy Essilor lenses and exclude other lenssuppliers from the market.
Source:
http://abcnews.go.com/International/...-plan-50102344
Bookmarks