Meta wins appeal against block of Giphy deal by UK regulator

2022.06.14 20:21

FILE PHOTO: The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. REUTERS/Arnd Wiegmann

LONDON (Reuters) – Meta Platforms won its appeal on Tuesday against Britain blocking its 2020 acquisition of GIFs supplier Giphy on one ground, the country’s Competition Appeal Tribunal (CAT) ruled.

The CAT said the Competition and Markets Authority had “failed properly to consult” and had “wrongly excised portions from its decision”, adding that the parties should identify how and when the question of remittal could be determined.

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