EssilorLuxottica says Meta told it about potential investment
Adds confirmation that Meta informed EssilorLuxottica of possible investment
MILAN, July 25 (Reuters) -The head of eyewear company EssilorLuxottica ESLX.PA said Meta META.O had informed him that it might take a stake in the company, adding on Thursday that he would welcome such a step.
The comments from CEO Francesco Milleri follow media reports last week that Meta could invest in the Ray-Ban maker. The Wall Street Journal said the two companies had discussed Meta taking a 5% stake in the Franco-Italian group.
"We are informed of this kind of intention," Milleri told analysts inan earnings call, adding that such interest was welcome.
"We are proud that the company that know us very well now after years of partnership is convinced that our company, our group, can grow," Milleri said.
"We have no plan for a capital increase dedicated to Meta," he added, saying any share purchase would have to be made on the market. EssilorLuxottica has a market capitalisation of around 88 billion euros ($95 billion), accordingto LSEG data.
The two groups already have a partnership for smart glasses and Milleri said the relationship was really strong and it would be a long-term one.
Milleri said earlier in July that the new generation of Ray-Ban Meta smart glasses had sold more in a few months than the old ones did in two years. The smart glasses went on the market last October, allowing users to livestream directly from them to followers on Facebook and Instagram.
($1 = 0.9221 euros)
Reporting by Elisa Anzolin
Writing by Keith Weir
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