The company Facebook questioned the right of the British antitrust authority to demand from it the sale of the animated image service Giphy. The company argued in favor of not selling in a letter to the UK regulator.
Facebook argues that the failure of the UK Competition and Markets Authority (CMA) to issue any order regarding Giphy raises doubts as to whether any wish to sell assets will be complied with and the effectiveness of this decision. Recall that last month, the British regulator hinted that the social media giant may have to sell the service Giphy due to the harm to the multimedia market.
Facebook took over the Giphy service, which allows you to create and share animated GIF messages, last year. The social media giant planned to integrate the service with Instagram. The deal to buy Giphy was valued at $ 400 million and since January this year, the British regulator has been considering the details related to it.
In a letter, Facebook stated that the preliminary findings of the regulator contain “fundamental errors” and the agency is not able to provide alternative remedies that would be “much less intrusive and at the same time effective“To resolve aspects of the transaction. Officials from Facebook and CMA have refrained from commenting on a possible sale of the Giphy service.