UK regulators are taking a tougher stance on technology deals where giants swallow up smaller firms. CMA officials have voiced regret for waving through game-changing deals in the past, such as Facebook’s takeover of Instagram. — Reuters
Facebook Inc will face an in-depth UK review of its US$400mil (RM1.65bil) purchase of GIF search engine Giphy Inc after it skipped offering concessions to address antitrust concerns.
The Competition and Markets Authority said it will run a so-called second-phase investigation through to Sept 15, according to an emailed statement Thursday.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
