UK regulator shows more assertive posture in blocking Facebook purchase of Giphy By Reuters

UK regulator shows more assertive posture in blocking Facebook purchase of Giphy By Reuters
UK regulator shows more assertive posture in blocking Facebook purchase of Giphy© Reuters. FILE PHOTO: People are silhouetted as they pose with laptops in front of a screen projected with a Facebook logo, in this picture illustration taken in Zenica October 29, 2014. REUTERS/Dado Ruvic/File Photo

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 (NASDAQ:) and Google (NASDAQ:), which dominate digital advertising.

Coscelli…

Continue reading

Leave a Reply

Your email address will not be published.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