Tuesday, September 27, 2022
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Facebook criticized Call of UK Watchdog to Sell Giphy

Facebook, a social media company has criticized the antitrust regulator of United Kingdom over the provisional call, which the company ‘Facebook’ is going to have for selling all of the Giphy website for the purpose of addressing the concerns of competitions, that will be setting up a fight over the completed deal.

Facebook said, selling off Giphy, which Facebook has purchased in 2020 for a sum of 400 million dollars is going to be totally disproportionate and unreasonable, and the cases have also opened yet another front for one of the biggest technologies companies in the world to fight on, and Germany and the European Union have already been investigating the Dating and Marketplace services of Facebook.

In the United States, the antitrust officials have again filed the monopoly lawsuit against the company ‘Facebook’, which had been tossed in the month of June 2021, and Facebook said, the regulators should carefully put the step of ordering the sale of a company ‘Giphy’, which is not carrying on business in the United Kingdom.

The company has also been fighting with the CMA for over a year regarding a deal, which Facebook has completed before it started seeking approval from the United Kingdom or several other authorities, and Facebook is also in the eye of the storm as the regulators across the world have been cracking down on the big technology takeovers of their potentially smaller rivals.