UK market watchdog starts merger inquiry into Facebook acquisition of Giphy

A United Kingdom government watchdog has launched merger inquiry into Facebook's acquisition of Giphy to investigate wher deal will stifle competition in market. Competition and Markets Authority (CMA), a department responsible for preventing anti-competition activities in UK, on January 28 anunced it has launched a probe into Facebook-Giphy deal and has set a deline of March 25 to decide wher a furr investigation should be carried out. 

Re: What Happened To Facebook? Facebook Session Expired And Login Issue Explained

Facebook acquired Giphy earlier last year for $400 million, following which CMA started examining deal to see if it will suppress competition. Facebook h reportedly planned to merge Giphy with Instagram but CMA examination prevented it from doing so as department called on companies to continue as it is until probe is finished. Giphy, a platform for GIF videos, is largely used by users of Facebook-owned apps, including Instagram, Messenger, and WhatsApp. 

Re: Facebook Awaits Decision Of Independent Oversight Board Over Suspension Of Trump's Account

Facebook lost tribunal appeal

Last year, CMA imposed an initial enforcement order (IEO), which prevents merging companies from integrating until probe is complete. Facebook later requested for 'derogation', which is requested by merging companies to seek reprieve from parts of IEO. However, CMA declined Facebook's request following which US-based company moved to Competition Appeal Tribunal. tribunal dismissed Facebook's appeal, which was welcomed by CMA, who said "judgement sends a clear mess". 

Re: Facebook's Oversight Board To Rule On Trump Ban

Facebook has been accused on several occasions of practising unfair business practices to stifle competition. social media giant is toriously kwn for acquiring companies, which it sees as a potential threat to its unchallenged mopoly in market. Both Instagram and WhatsApp were independent platforms before y were acquired by Facebook. 

Re: Parliamentary Standing Committee On IT Summons Facebook & Twitter Amid WhatsApp Row

(Im Credit: AP)