Facebook Loses Appeal In CMA Probe Of Giphy Deal

Law360 (November 13, 2020, 4:31 PM EST) -- Britain's antitrust court on Friday rejected Facebook's bid to loosen restrictions that authorities tentatively imposed on the social media giant's deal to gobble up Giphy.

The Competition Appeal Tribunal denied three grounds of an appeal by Facebook, which claimed that antitrust officials had not adequately justified not letting the company "carve out" parts of its business from interim restrictions placed on its takeover of the animation-hosting site.

The restrictions were imposed by the UK Competition and Markets Authority to prevent full integration of the businesses while the CMA investigates the deal. The authority has rejected Facebook's accusation that CMA effectively rebuffed...

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