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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Meta Accepts UK Order to Sell Giphy after Antitrust Battle

Meta Giphy CMA United Kingdom United States Facebook Competition and Markets Authority Britain
The Meta and Giphy logos are seen in this illustration taken June 16, 2022. (Reuters)

Britain's competition regulator has ordered Facebook-owner Meta to sell animated-images platform Giphy on Tuesday after a tribunal upheld its view that the acquisition could damage its rivals and remove a potential competitor in advertising.

Meta said it would accept the Competition and Markets Authority's (CMA) order to unwind the 2020 deal.

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