March 3, 2021

UK opens formal inquiry into Facebook’s acquisition of GP

The UK’s competition watchdog on Thursday launched a formal investigation into Facebook’s purchase of GPs over concerns that it could block competition for animated films.

The Competition and Markets Commission has set March 25 as the deadline for the first phase of the investigation.

The watchdog began reviewing the deal shortly after Facebook announced plans to acquire GB in a $ 400 million deal. GP’s library of short loop videos or GIFs is a popular tool for sending messages or posting on social media to Internet users.

We will continue to co-operate with the CMA’s investigation, “Facebook said in a statement. This connection is competitive and for the benefit of GB and everyone in the UK who use our services.

Facebook had planned to integrate GP’s operations with Instagram, but the authority last year ordered companies to keep their businesses separate when reviewing the deal.

Half of GB’s traffic comes from Facebook’s apps, which include Messenger and WhatsApp, Facebook said when announcing the deal.

(Only the title and image of this report may have been reworked by Business Quality staff; the rest of the content will be automatically generated from an integrated feed.)

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