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UK competition watchdog orders Meta to sell gif website Giphy

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theguardian.com

Facebook parent company Meta has been ordered by the UK competition watchdog to sell the gif creation website Giphy, the first time the regulator has moved to block a deal struck by one of the Silicon Valley giants.The Competition and Markets Authority, which provisionally ruled in August that a sell-off was the only way to resolve competition concerns, said the move would “protect millions of social media users” and stop Facebook “increasing its significant power in social media”.The CMA

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