Facebook Appeals Giphy Merger Restrictions In CMA Probe

Law360, London (April 28, 2021, 6:17 PM BST) -- Facebook urged an appellate court on Wednesday to revive its challenge to restrictions imposed by U.K. antitrust enforcers while investigating its purchase of Giphy Inc., saying the restraints are so broad they risk harming the tech giant's business and distorting competition.

Counsel for Facebook argued that the Competition and Markets Authority had misinterpreted Britain's competition law when it rebuffed the social media behemoth's requests to carve out the bulk of its global business from interim restrictions. The restrictions were imposed in response to its acquisition of the animated clip company.

"One of the more obvious legal objections is that the CMA's...

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