Facebook Won't Offer Giphy Fixes, Draws UK In-Depth Probe

Law360 (April 1, 2021, 5:36 PM EDT) -- United Kingdom antitrust authorities said Thursday that they'd be more intensely scrutinizing Facebook's plan to gobble up online GIF database Giphy, after the social media giant declined to offer any tweaks that might mollify competition concerns.

The Competition and Markets Authority said in an update on its review page for the merger — which the CMA says the parties have already essentially completed — that it had referred the deal "for an in-depth investigation" out of a concern that it could substantially lessen competition in the U.K.

"Facebook was given the opportunity to offer undertakings to the CMA to address these...

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