Facebook (FB) takeover of Giphy raises competition concerns, says U.K.'s CMA
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UK May Push Facebook (FB) to Sell Giphy Over Competition Concerns
August 12, 2021 8:48 AM EDTFacebook (NASDAQ: FB) may be forced to divest the GIF website Giphy, according to the latest news from the UK.
The UK's Competition and Markets Authority (CMA) said today that the deal between two companies will harm competition between social media platforms and remove a potential challenger in the display advertising market.
If these concerns are ultimately confirmed, Facebook would be asked to unwind the deal and sell off Giphy in its... More
