UK tribunal backs most of ruling against Meta’s Giphy deal

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Reuters UK

By Paul Sandle LONDON (Reuters) -Meta Platforms won an appeal against Britain blocking its acquisition of Giphy on a single procedural ground, but the country’s Competition Appeal Tribunal (CAT) endorsed the regulator’s finding that the deal could harm competition. Britain’s Competition and Markets Authority (CMA) last year ordered Meta to sell animated images platform Giphy, which it acquired for a reported $400 million, because of its concerns about a loss of a possible competitor in advertising and the potential impact on social media rivals. nL4N2SL2RD The CAT said on Tuesday that the CMA …

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