FILE PHOTO: A 3D printed Facebook’s new rebrand logo Meta is seen in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration
January 5, 2022
LONDON (Reuters) – Facebook owner Meta has applied to be able to appeal a ruling by a British competition watchdog that it must sell popular animated images platform Giphy.
The Competition and Markets Authority (CMA) said in November it had found that the acquisition of Giphy would reduce competition between social media platforms and in display advertising.
The Competition Appeal Tribunal said on Wednesday that Meta had lodged an application for review on Dec. 23, challenging the ruling on six grounds.
(Reporting by Kate Holton; editing by William James)
Source: One America News Network
