Facebook appeals UK ruling that it must sell Giphy

Facebook appeals UK ruling that it must sell Giphy

Facebook appeals UK ruling that it must sell Giphy

Information about Facebook appeals UK ruling that it must sell Giphy

Kevin David Scam or Legit


By Paul Sandle
LONDON (Reuters) – Facebook-owner Meta is appealing Britain’s ruling that it must sell animated images platform Giphy, saying the evidence does not support the finding that the deal is a threat to its rivals or could impact competition in display advertising.
Britain’s Competition and Markets Authority (CMA) ordered Meta to sell Giphy, which it acquired for a reported $400 million in May 2020, last month after it decided the remedies offered by the U.S. company did not answer its concerns.
It was the first time the British regulator had blocked a major digital acquisition, and it signalled a step change in its scrutiny of “big tech” companies.
“We are appealing the CMA’s Giphy decision and will seek a stay of the CMA’s order to divest,” a Meta …

Read More on Datafloq

Breaking Story – Facebook appeals UK ruling that it must sell Giphy

The Latest News on Facebook appeals UK ruling that it must sell Giphy

Source link
Category – Automation

Leave a Reply

Your email address will not be published. Required fields are marked *