Meta Platforms: London asks Facebook to divest GIPHY

(CercleFinance.com) - On Tuesday the UK Competition and Markets Authority (CMA) ruled definitively against Facebook's acquisition of Giphy, saying that the deal will harm consumers and market players.


In its opinion, the CMA explains that its concerns can only be addressed if Facebook sells Giphy to a buyer that it has approved of, which leads it to demand the divestment of the entity.

In September, Facebook said it had no concessions to offer in order to be able to complete the acquisition of Giphy, whose activities are limited to the United States.

The British competition authority had been alarmed for many months about the consequences of the takeover of Giphy, the largest search engine for Gifs, by the American social networking giant.

The CMA was particularly concerned about the fact that, apart from Giphy, there is only one other supplier of Gifs, namely Tenor (Google).


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