Luxottica shareholders the Del Vecchio family are considering buying a stake in Safilo according to reports from Italian financial newspaper Finanza & Mercati, citing sources from both companies.
While Luxottica declined to comment, Safilo's largest shareholder Only 3 T said in a statement: 'This news is groundless.'
Italian corporate and investment bank Centrobanca told Reuters that it also considered it unlikely Luxottica would be interested in a stake in Safilo given Safilo's high level of debt, the different make-up of its brand portfolio and antitrust concerns.
A note from the bank said: 'We consider this news quite unlikely as it could completely change the strategy of Luxottica.'
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