Meta’s acquisition of Giphy may be blocked.
Photo by Jakub Porzycki/NurPhoto via Getty Images
The UK Competition and Markets Authority is expected to block Meta’s $315 million acquisition of Giphy in the near future, the Financial Times reported Monday. Meta, previously known as Facebook, moved to buy the online GIF platform in May 2020. However, the UK regulator expressed concern with the deal and provisionally ruled in August that Meta should be forced to sell Giphy. The regulators have until Dec. 1 to make their final decision.
The company responded to a request for comment with a statement it gave in August. ” …
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