Meta explores taking ‘multibillion-euro’ stake in EssilorLuxottica, FT reports

Meta (META) is exploring taking a multibillion-euro stake in EssilorLuxottica (ESLOY) as the Facebook owner intensifies its push to develop smart glasses, The Financial Times’ Arash Massoudi, Hannah Murphy, and Silvia Sciorilli Borrelli report. According to multiple people with knowledge of its thinking, Meta is considering taking a “small” stake in the eyewear group and has been holding talks with EssilorLuxottica to deepen their existing collaboration following the successful launch of a revamped version of their “Ray Ban-Meta” smart glasses last year. Meta has been working with Morgan Stanley on the matter, according to one of the people.