June 29, 2018 / 5:21 PM / 10 months ago

Luxottica, Essilor extend deadline for merger pending China's approval

FILE PHOTO: The Luxottica name is reflected in a pair of sunglasses in this photo illustration taken in Rome February 4, 2016. REUTERS/Alessandro Bianchi/Illustration/File Photo

MILAN (Reuters) - French lens manufacturer Essilor ESSI.PA and Italian eyewear Luxottica LUX.MI have extended a deadline for their planned merger to July 31 as the Chinese competition authority has not yet approved the transaction.

In a statement published on Friday the two groups said that they remained confident the antitrust processes in China and in Turkey will be completed in the coming weeks.

The approval by the Chinese authority is a condition of closing the deal.

The first general meeting of EssilorLuxottica shareholders, which was scheduled for July 25, will be reconvened for a later date.

Reporting by Francesca Landini; Editing by Elaine Hardcastle

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