BREAKING NEWS

BREAKING NEWS

Italy' antitrust opens probe over Luxottica's acquisition of Barberini

Italy' antitrust opens probe over Luxottica's acquisition of Barberini
The Luxottica's headquaters is seen in downtown Milan, February 1, 2016. REUTERS/Stefano Rellandini/File Photo -
@ Copyright :
Stefano Rellandini(Reuters)
Text size Aa Aa

ROME (Reuters) - The Italian antitrust authority said on Friday it had opened a probe into Luxottica's <LUX.MI> acquisition of top sun lens maker Barberini.

Luxottica, the world's largest spectacles manufacturer, completed this week its merger with France's Essilor <ESSI.PA>, the biggest lens maker globally.

The Italian group in June announced it had bought Barberini, the world's top manufacturer of optical glass sun lenses, in a 140 million euro ($161 million) deal.

The antitrust said in a document on its website EssilorLuxottica and Barberini would control 65-70 percent of the Italian sunglasses market.

"Barberini's positioning ... leads one to believe that such a concentration could significantly hamper competition ... creating or strengthening a dominant position," it said.

Luxottica had no immediate comment.

(Reporting by Alberto Sisto, writing by Valentina Za)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.