Tribunal backs regulators in row with Facebook over blocked Giphy sale

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Tribunal backs regulators in row with Facebook-owner Meta over blocking of sale of image website Giphy

By Daily Mail City & Finance Reporter

Published: | Updated:

The Competition Appeal Tribunal dismissed all but one of Meta’s seven challenges against the Competition and Markets Authority

A competition tribunal has effectively sided with regulators who blocked the sale of image website Giphy to Facebook owner Meta.

The Competition Appeal Tribunal (CAT) unanimously dismissed all but one of Meta’s seven challenges against the Competition and Markets Authority (CMA), saying there was ‘no hesitation’ the watchdog was entitled to take the decision.

The CAT added it was not its choice to figure out whether the CMA had ‘got it right’ but whether its decision was lawful or not.

CMA boss Andrea Coscelli said the ruling was a ‘resounding endorsement of the CMA’s approach’. But Meta said the ruling found that the CMA’s approach to its investigation was ‘difficult to defend’ and ‘undermines the entirety of the decision’. 

The tribunal said the CMA had failed to properly share some information with the company but it would work out a way to remedy this later.

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