Chris Bennett: Colossal creation met with barely a whisper

A deafening silence has accompanied the optical mega-merger of the century which saw Essilor and Luxottica announce their decision to join forces.

If approvals allow, the combined force would command anywhere between 15 and 25% of the optical market. The numbers involved are staggering: 140,000 staff, €15bn income, €3.5bn operating profit, €45bn market capitalisation.

Some estimates suggest the combination will command more than half of the sunglass market. Amazingly there is little other overlap between the two businesses but savings of up to €600m have been identified bringing a smile to the spreadsheets of the analysts.

Given the scale of those numbers it’s not surprising that the two giants are hiding their light under a bushel, pending approval. But it’s important that a deal which will create such an optical colossus should be discussed.