Facebook owner Meta must sell social-media animated-images company Giphy, the U.K.’s top competition authority said, affirming an earlier ruling that its 2020 acquisition of the company could limit competition
Facebook owner Meta Platforms Inc. said it would sell its social-media animated-images company Giphy after the U.K.
’s top competition authority affirmed an earlier ruling ordering the company to divest it because the 2020 acquisitionFacebook’s announcement all but ends a yearslong saga in which a foreign regulator made a rare intervention in an already-consummated deal between two American companies. British regulators had ordered Meta to operate Giphy separately while the deal was under review.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: