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Britain’s Competition and Markets Authority penalized Meta Platforms Inc (NASDAQ: FB) £1.5 million ($2 million) over new issues regarding its purchase of Giphy, Reuters reports. The CMA ordered Meta to sell animated images platform Giphy, which Mark Zuckerberg-led Facebook had acquired for a reported $400 million in May 2020, after concluding that remedies offered by the U.S. company did not answer CMA concerns over the impact of digital advertising.
...read full article on Benzinga
