July 26, 2018 / 8:04 AM / 8 months ago

Shares in Luxottica, Essilor extend gains after China clears merger

MILAN (Reuters) - Shares in Italy’s Luxottica LUX.MI and France’s Essilor ESSI.PA extended gains after Chinese competition authorities cleared their plan to merge to create a 54-billion euro ($63 billion) eyewear giant.

The merger between the world’s biggest eyewear manufacturer and the top lens maker still needs to be approved in Turkey but China’s green light was the main remaining hurdle for the closing of the deal the two companies agreed in January 2017.

Reporting by Valentina Za; editing by Francesco Guarascio

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