Meta ordered to sell Giphy by UK’s competition watchdog CMA

The UK’s competition watchdog has reissued an order to Meta to sell animated images platform Giphy.

The Competition and Markets Authority (CMA) said this ruling was final, after going back and forth with the tech giant since its decision was first announced last year.

The CMA found that the takeover of the gif-creation website could harm social media users and advertising.

A Meta spokesperson said it accepted the decision but was “disappointed”.

The ruling is the first time the UK has blocked an acquisition by a tech giant, signalling a new determination to scrutinise digital deals.

-BBC

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