Facebook fined 505m over handling of Giphy takeover probe
The Competition and Markets Authority started an investigation in June 2020 Facebook has been fined £50.5 million after failing to provide enough important information to the competition regulator investigating the firm’s takeover of GIF sharing platform Giphy. The Competition and Markets Authority (CMA) launched a probe into the acquisition in June last year, shortly after the deal was announced, over concerns about a “substantial lessening of competition”. Giphy’s user-uploaded library […]