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Facebook-owner Meta lays the groundwork for UK appeal over Giphy sale

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Facebook-owner Meta has applied to appeal a British competition watchdog’s decision that it should sell Giphy, including challenging the finding that the deal removed a potential competitor in display advertising.

Meta said last month it filed an appeal against the Competition and Markets Authority (CMA)’s decision to halt its acquisition of Giphy in 2020.

It was the first time a British regulator had blocked a major digital acquisition, and it signaled a step change in its investigation of “big tech” companies.

The Competition Appeals Tribunal published a summary of META’s application on Wednesday, outlining its challenge on six grounds.

The US company, which also owns Instagram and WhatsApp as well as Facebook, said the CMA had failed to assess its proposal to ensure that Giphy continues to provide services to competitors such as Snapchat and TikTok on equal terms. Can keep

Meta said the regulator’s decision was also procedurally flawed.

The CMA ordered Meta to sell Giphy, which it had reportedly acquired in May 2020, for $400 million (about Rs 2,980 crore), after deciding in November that measures introduced by the US company met its concerns. did not answer.

© Thomson Reuters 2022


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