Luxottica's First-Half Results In Line With Expectations; FVE Maintained
We retain our fair value estimate for the EssilorLuxottica combined entity, as Luxottica reported half-year results in line with our expectations. The firm reiterated its full-year guidance but stated that the results will likely be in the lower bound (in line with our expectations).The firm expects to obtain merger approval in China by the end of July (as conditions for the merger are being discussed). Discussions with Turkish antitrust authorities are also being finalised. China is the only r...
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