EssilorLuxottica director says Meta's stake in Ray-Ban maker 'at least 3%'

Reuters12-09
<a href="https://laohu8.com/S/ESLOF">EssilorLuxottica</a> director says Meta's stake in Ray-Ban maker 'at least 3%'

By Mathieu Rosemain

PARIS, Dec 9 (Reuters) - Facebook-owner Meta META.O holds at least a 3% stake in EssilorLuxottica ESLX.PA, a board director at the European firm behind Ray-Ban glasses said on Tuesday.

The Meta stake has previously been reported from sources but not confirmed by either firm. The pair are working closely together on Ray-Ban Meta AI-powered glasses.

Jose Gonzalo, executive director at French state-owned investment bank Bpifrance and an independent director on EssilorLuxottica's board, said that number could rise.

"It's at least 3%," he said, adding it was possibly up to 5% although likely at the lower end of that range. He added that "nothing is stopping them from continuing to grow (their stake)".

Meta did not immediately reply to a request seeking comment. EssilorLuxottica was not immediately available for a comment.

Gonzalo added that Meta was not currently seeking a seat on the board.

"They are not represented on the board, they have not asked for representation on the board," he said.

(Reporting by Mathieu Rosemain;Additional reporting from Elisa Anzolin and Tassilo Hummel; Editing by Louise Heavens)

((mathieu.rosemain@tr.com))

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