EU Opens In-Depth Probe Into EssilorLuxottica Takeover of GrandVision
06 Febbraio 2020 - 07:17PM
Dow Jones News
By Cristina Roca
European Union antitrust authorities have opened a full-scale
investigation into EssilorLuxottica SA's (EL.FR) 7.2 billion euro
($7.93 billion) deal to buy Dutch peer Grandvision NV (GVNV.AE) on
concerns that it may reduce competition.
The European Commission, the bloc's antitrust authority, said
Thursday that its initial market investigation raised several
issues about combining the Franco-Italian company's strong market
position in the wholesale supply of lenses and eyewear with
GrandVision's leading presence in retail distribution of these
products.
EssilorLuxottica and GrandVision decided not to submit
commitments to address the commission's preliminary concerns during
this initial investigation, the commission said.
In the in-depth investigation launched Thursday, the commission
"will investigate whether such changes in the competitive landscape
of the optical industry could lead to adverse effects on
competition, such as increased prices or reduction of choice of
optical products for final consumers," it said in a press
release.
The commission will decide by June 22, it said.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
February 06, 2020 13:02 ET (18:02 GMT)
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