EU approves Ray-Ban maker’s merger with French firm

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EU approves Ray-Ban maker’s merger with French firm0

BRUSSELS: The EU on Tuesday approved the proposed merger between French lensmaker Essilor and Luxottica, the Italian eyewear company that produces Ray-Ban and Oakley sunglasses. The European Commission, the bloc’s executive arm and regulator, said it found no evidence the tie-up would hurt competition after it carried out a survey of 4,000 opticians across Europe. “As the result of the market test did not support our initial concerns, we can let this merger go ahead unconditionally,” EU Competition Commissioner Margrethe Vestager said in a statement. As soon as the merger was announced in January 2017, analysts had warned of possible reluctance by competition authorities over a deal that would bring together a major lens producer with a leading manufacturer of frames.

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