Facebook appeals UK ruling that it must sell Giphy

FILE PHOTO: A 3D printed Facebook's new rebrand logo Meta is seen in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) - Facebook-owner Meta is appealing Britain's ruling that it must sell animated images platform Giphy, saying the evidence does not support the finding that the deal is a threat to its rivals or could impact competition in display advertising.

Britain's Competition and Markets Authority (CMA) ordered Meta to sell Giphy, which it acquired for a reported $400 million in May 2020, last month after it decided the remedies offered by the U.S. company did not answer its concerns.