MILAN (Thomson Financial) - Luxottica Group SpA chairman Leonardo Del Vecchio said that the group does not plan to delist from the New York Stock Exchange to focus on the Milan market.
Being listed in the US gives the company visibility in a country where it has a significant presence, he said.
Fiat SpA and Benetton Group SpA announced earlier this year plans to drop listings on the NYSE.
When asked about future acquisitions, Del Vecchio said that the group's attention is on the integration of Oakley Inc, which will take two years.
In June, Luxottica announced the 2.1 bln usd takeover of Oakley. The operation is scheduled to close this year and is forecast to generate some 100 mln eur of annual operating synergies within three years. philip.webster@thomson.com pw/sal COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2007 AFX News
