Meta Reported to Acquire Close to 3 Percent Stake in EssilorLuxottica

CHARENTON-LE-PONT, France and MENLO PARK, Calif.—Meta Platforms, Inc., (NASDAQ: META) has reportedly purchased a minority stake in EssilorLuxottica (Reuters: ESLX.PA), with reputable financial news outlets indicating that the tech giant and parent company of platforms such as Facebook and Instagram has acquired just shy of a 3 percent stake in EssilorLuxottica, for a transaction valued at approximately $3.5 billion. Reports further indicate that Meta is considering additional future engagement that builds to an approximate 5 percent stake over time. EssilorLuxottica declined to comment when contacted by VMAIL. Meta could not be reached as of press time.