Meta, the owner of Facebook, is appealing against a UK watchdog’s ruling that it must sell the animated images platform Giphy, saying that the evidence does not support the finding that the deal is a threat to its rivals or could affect competition in display advertising.
The Competition and Markets Authority ordered Meta last month to sell Giphy, which it bought for a reported $400 million in May 2020, after it decided the remedies offered by the US company did not address its concerns.
It was the first time the authority had blocked a big 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
