Ray-Ban maker, Essilor to merge into $49B firm

Luxottica, the world's biggest glasses maker, has agreed to merge with French lens maker Essillor.

The merger of Luxottica, the owner of Ray-Ban and Oakley, with Essillor would create a firm worth a combined $49 billion.

"The marriage between two key companies in their sectors will bring great benefits to the market, for employees and mainly for all our consumers," said Leonardo Del Vecchio, Luxottica's executive chairman, in a statement.

Read more from BBC News.

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