The U.K.'s competition regulator announced Thursday that Facebook's acquisition of popular GIF website Giphy presents competition concerns.
The Competition and Markets Authority said it has provisionally found Facebook's purchase of Giphy will harm competition between social media platforms.The logos of Facebook and Giphy.LONDON — The U.K.'s competition regulator announced Thursday thatCompetition and Markets Authority said
Stuart McIntosh, chair of the independent inquiry group carrying out the phase 2 investigation, said in a statement that Facebook could pull GIFs from competing platforms or ask users to hand over more data in order to access them. "While our investigation has shown serious competition concerns, these are provisional," McIntosh said.
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