The UK competition regulator is expected to block Meta’s acquisition of online gif platform Giphy in the coming days in an escalation of the watchdog’s assault on Big Tech.
The Competition and Markets Authority is set to reverse the deal according to individuals close to the matter, in what would be the first time the CMA has unwound a Big Tech deal.
The watchdog began investigating Meta’s acquisition of New-York based Giphy — the biggest provider of animated images known as gifs to social networks — in June last year. A decision to block the deal would set an eye-catching precedent from the UK regulator, which has never sought to reverse a completed tech deal.
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