September 26, 2017 / 4:33 PM / a year ago

Essilor, Luxottica say to co-operate with EU on planned merger

PARIS (Reuters) - Essilor (ESSI.PA) and Luxottica (LUX.MI) said they planned to co-operate with the European Commission to ensure their planned merger goes ahead, after EU anti-trust regulators said they would investigate the proposed 46 billion euro (40.34 billion pounds) deal.

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

“The companies reaffirm the objective to close the transaction around the end of the year, in co-operation with the relevant authorities,” Essilor and Luxottica said in a joint statement.

Earlier, EU antitrust regulators said they would investigate whether the proposed merger of Italian eyewear maker Luxottica and French lenses maker Essilor would push up prices and drive out rivals from the market.

Reporting by Sudip Kar-Gupta. Editing by Jane Merriman

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