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Facebook Giphy merger stays on ice after failed challenge to UK competition regulator

Problem was of social network s own making, says unimpressed judge
Gareth Corfield
Fri 14 May 2021 // 16:29 UTC
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Facebook has failed to neutralise an order from Britain s competition regulator freezing its buyout of Giphy after having sat on its hands and failed to answer questions, the Court of Appeal has found.
Judge Sir Geoffrey Vos said the central problem in this case was entirely of Facebook s own making as he dismissed its attempt to overturn an Initial Enforcement Order (IEO) made by Britain s Competition and Markets Authority (CMA) last year.
That IEO blocked the Mark Zuckerberg-owned social network from finishing off its $400m buyout of Giphy, a supplier of web tracking beacons cunningly disguised as funny little animated images used to spice up online chats and comment sections. ....

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CMA welcomes Court judgment in Facebook and Giphy case

CMA welcomes Court judgment in Facebook and Giphy case
The CMA has today welcomed the Court of Appeal’s decision to dismiss all 4 of Facebook’s grounds of appeal in a key case on how companies engage with the CMA.
From:
13 May 2021
The Court of Appeal criticised Facebook’s conduct, saying the “central problem in this case was entirely of Facebook’s own making”, and agreeing with the Tribunal’s finding that the company “sat on its hands” and “did not properly engage” with the Competition and Markets Authority (CMA) following its derogation request.
CMA Chief Executive Andrea Coscelli said: ....

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