UK regulator’s order for Meta to sell Giphy is under review — again
by Jon Porter from The Verge - All Posts on (#61HDP)
Illustration by Alex Castro / The Verge There's been another twist in the saga of Meta's attempt to buy GIF-sharing service Giphy, Bloomberg reports. Judges with the Competition Appeal Tribunal have told the UK's competition regulator, the Competition and Markets Authority (CMA), to reconsider its previous ruling telling Meta to sell Giphy. We have agreed to reconsider our decision in light of this finding," the CMA told Bloomberg in a statement. It hopes the process will take no longer than three months.
The ruling comes a month after the same tribunal largely sided with the regulator after Meta appealed its order to unwind the deal and sell Giphy. The tribunal found in favor of the CMA on five out of the six claims, but, crucially, on the remaining claim, it ruled that the...