The European Commission investigation into the takeover of optical company GrandVision by eyeglass and lens manufacturer EssilorLuxottica is taking longer than planned. The deadline for the completion of the investigation has been postponed to August 27. The deadline has already been postponed several times.
The market watchdog previously announced that it would conduct an in-depth investigation into the incorporation of GrandVision by the Italian-French group. The committee is concerned that the takeover will leave less competition on the wholesale market for spectacle lenses and spectacles and that there will also be less choice for consumers.
The acquisition of GrandVision involves 7.2 billion euros. The company is active with brands such as Pearle and Eyewish.