Meta’s Giphy acquisition will likely stay blocked after UK appeals court ruling

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Illustration by Alex Castro / The Verge

In a judgment on Tuesday, an appeals tribunal in the United Kingdom largely upheld a previous ruling ordering Meta (parent company to Facebook) to unwind its acquisition of Giphy, as first reported by the Financial Times. The judgment comes more than six months after the initial ruling by the UK’s Competition and Markets Authority (CMA) and more than two years after Meta first announced its intention to acquire the company.

The ruling was not a total defeat for Meta, however. While the appeals tribunal found in favor of the CMA in five of the six claims, the tribunal did rule that the CMA had failed to properly inform Meta of Snapchat’s acquisition of Gfycat for nearly a year after it became aware of the ruling, thus undermining the…

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Author: AliensFaith
HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

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