February 25, 2020 / 10:39 AM / a month ago

EU extends EssilorLuxottica, GrandVision antitrust investigation to July 6

FILE PHOTO: Sunglasses from Ray Ban, a Luxottica owned brand, are on display at an optician shop in Hanau, Germany, March 18, 2016. REUTERS/Kai Pfaffenbach/File Photo

BRUSSELS (Reuters) - EU antitrust regulators on Tuesday extended their investigation into Ray-Ban maker EssilorLuxottica’s (ESLX.PA) 7.2 billion-euro ($7.8 billion) bid for Dutch opticians group GrandVision (GVNV.AS) by two weeks to July 6, according to an EU filing.

The European Commission launched a full-scale investigation on Feb. 6 on worries that the deal could push up prices or reduce choice for consumers.

The deal has sparked concerns among retailers and rival lens makers, sources have told Reuters. EssilorLuxottica’s eyewear and retail brands include Oakley, Sunglass Hut and Spectacle Hut.

The company was formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica.

GrandVision’s chains include Vision Express in Britain and For Eyes in the United States and it also sells brands including Varilux lenses and Ray-Ban sunglasses.

Reporting by Foo Yun Chee

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