The U.K. Competition and Markets Authority (CMA) is expected to be granted wider jurisdictional powers for merger control enforcement in legislative proposals mentioned in today’s.
UK’s Competition and Markets Authority CMA has ordered the company formerly known as Facebook to unwind its acquisition of Giphy, Inc. due to potential harms in the markets for social media and digital display advertising.
The antitrust regulator said on Tuesday that Facebook must sell Giphy Inc., its online image platform, after finding that its recently completed acquisition gives rise to competition problems that could harm social media users and advertisers in Britain.
The antitrust regulator said on Tuesday that Facebook must sell Giphy Inc., its online image platform, after finding that its recently completed acquisition gives rise to competition problems that could harm social media users and advertisers in Britain.
On October 20, the Competition and Markets Authority (CMA) fined Facebook, Inc. £50.5 million ($69.5 million) for breaching an Initial Enforcement Order (IEO) during the CMA's.