On 1 December 2022, the Competition and Markets Authority (CMA) opened a public consultation on its Final Order pursuant to section 84 of the Enterprise Act 2002 in the Facebook/Giphy merger investigation, until 30 December 2022. In particular, in its Final Order the CMA decided, after considering all evidence from both the original and remittal inquiries, that the Facebook/Giphy merger would likely result in a substantial lessening of competition in the social media and display advertising markets. As a result, the CMA intends to order Facebook to sell Giphy to a suitable buyer.
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