Analysis-UK regulator shows more assertive posture in blocking Facebook purchase of Giphy
Information about Analysis-UK regulator shows more assertive posture in blocking Facebook purchase of Giphy
Kevin David Scam or Legit
By Paul Sandle
LONDON (Reuters) – Britain’s move to block Facebook-owner Meta Platform Inc’s acquisition of Giphy signalled a new determination to scrutinise digital deals.
Meta on Thursday appealed the ruling by the Competition and Markets Authority, which said the 2020 deal must be unwound and Giphy sold as a going concern.
The November decision was the first time the regulator had blocked an acquisition by a major tech company.
Under the leadership of Chief Executive Andrea Coscelli, the CMA has stepped up its scrutiny of “big tech,” and in particular Facebook and Google, which dominate digital advertising.
Coscelli has set up a digital markets unit, and he wants it to be backed up by new legislation.