Meta Platforms (META) has bought a minority stake in eyewear maker and partner EssilorLuxottica (ESLOY), people familiar with the matter told Bloomberg’s Kurt Wagner, Tommaso Ebhardt and Daniele Lepido. Meta acquired just under 3% of the Ray-Ban maker worth around EUR 3B, or $3.5B, at current market price, said the report. Shares of EssilorLuxottica are up 1.5% in New York in afternoon trading.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on META:
- Meta buys $3.5B stake in smart glasses partner EssilorLuxottica, Bloomberg says
- AI Daily: Meta poaches Apple’s top AI models executive
- NVDA, AAPL, META: U.S. Dollar Sees Biggest Decline in 52 Years, Pressuring Stocks
- Meta Platforms price target raised to $740 from $620 at Roth Capital
- Meta Nabs Apple’s Top AI Executive for Superintelligence Team