Facebook owner Meta Platforms (FB) has been ordered by the UK competition authority to offload Giphy, a platform for animated images. Reuters reports that the Competition and Markets Authority (CMA) believes a merger of the two will reduce competition in the social media space by allowing Facebook to add to its significant market power. FB shares fell 4.01% to close at $324.46 on November 30. Facebook is a social networking company that develops applications that enable people to connect through mobile devices and personal computers. Facebook - Giphy Stalemate The competition watchdog has also warned that Facebook's acquisition of Giphy reduces competition in the display advertising segment.
https://www.tipranks.com/news/facebook-ordered-to-sell-giphy-by-cma-report?utm_source=advfn.com&utm_medium=referral
Meta Platforms (NASDAQ:META)
Historical Stock Chart
Von Jul 2022 bis Aug 2022 Click Here for more Meta Platforms Charts.
Meta Platforms (NASDAQ:META)
Historical Stock Chart
Von Aug 2021 bis Aug 2022 Click Here for more Meta Platforms Charts.