CMA upholds decision ordering Meta to sell Giphy

18/10/2022 | CMA

The Competition and Markets Authority (CMA) has ordered Meta that it needs to sell Giphy because the acquisition of the animated GIF creator platform will damage rivals, consumers and advertisers. The news comes after the regulator conducted an "expedited review" of its original decision, including further submissions from both Giphy and Meta. Meta acquired Giphy two years ago for £290m. 

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