this week attempt to overturn a controversial order to sell off Giphy, in a four-day trial that’ll mark the biggest antitrust court clash in the UK this year.
Lawyers for Meta will try to appeal on six grounds, including arguing the order to sell was flawed because the CMA didn’t prove that Giphy could have become a meaningful competitor to Meta’s Facebook, according to documents prepared for trial. The CMA told Meta to sell Giphy after an in-depth investigation concluded in November that the tie-up would allow Meta to increase its power on social media further. It was the first time a global regulator forced a Big Tech firm to unwind a completed deal and the UK was the only major regulator to take a stance on the acquisition.
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