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Report: EU antitrust regulator set to clear Luxottica, Essilor €48B merger

Luxottica Group SpA and Essilor International SA are set to receive unconditional antitrust clearance from the European Commission for the companies' €48 billion merger, Reuters reported, citing two people familiar with the matter.

The combination between Italy-based Luxottica, the world's largest eyeglass frame maker, and France's Essilor, the leader in lens making, would create an eyewear giant that carries brands such as Ray-Ban, Oakley and Persol.

The EC, the EU's antitrust regulator, had launched a probe into the merger due to competition concerns but suspended the investigation in November.

The deal was initially worth about €46 billion but the companies' higher share prices have driven the value to €48 billion.