Bloomberg reported that Rocco Basilico rejected a $3.9 billion approach for his reported stake in Delfin, a major shareholder in EssilorLuxottica.
The offer came from Basilico’s half-brother, Leonardo Maria Del Vecchio, Bloomberg reported Oct. 29, citing people familiar with the matter. Bloomberg put the price at €3.5 billion ($3.9 billion) for a stake it described as 12.5% of Delfin.
La Repubblica said Basilico was not seeking a sale, viewed the price as inadequate and questioned whether Leonardo Maria Del Vecchio could secure financing. It reported that Basilico had valued his stake at €4.3 billion at a Delfin shareholders’ meeting. LiveMint separately reported that Basilico was seeking about $4.8 billion.
On Oct. 28, La Repubblica reported that Basilico had sold 550 Delfin shares to Clemente Del Vecchio for €800,000. Its account did not give a revised percentage for Basilico’s holding.
Delfin is the family holding company behind EssilorLuxottica, which owns the Ray-Ban brand. EssilorLuxottica’s 2025 annual report lists Delfin as holding 32.4% of the company’s share capital as of Dec. 31, 2025.
Reuters reported that the late founder Leonardo Del Vecchio divided Delfin equally among his six children, his widow Nicoletta Zampillo and Basilico, her son from an earlier marriage. Leonardo Maria Del Vecchio is also Zampillo’s son. Basilico previously served as EssilorLuxottica’s chief wearables officer; the company announced he would leave that role effective January 2026, Reuters reported.
The reported bid coincides with a separate challenge to Delfin’s governance. Reuters, citing two people close to the matter, reported that Basilico, Paola Del Vecchio and Luca Del Vecchio asked a Luxembourg court to amend a rule affecting board composition. Under their proposal, six shareholder votes would be enough to approve such changes; Reuters said the current rules effectively require all eight to agree.
Reuters said shareholder disagreements have complicated efforts to lift a 10% cap on profit distributions and could affect Delfin’s investment portfolio. Analysts cited by Reuters warned the dispute could also divert EssilorLuxottica management’s attention.
