Too Long; Didn't Read
The outcome of the CMA's investigation into the Meta Giphy acquisition could set a precedent for future deals in the tech sector.
In the first few days of 2023, Meta has already received fines totaling more than half of the regional total from last year, and additional penalties may be on the way.
With the proliferation of tech giants, regulators around the world are facing pressure to ensure that competition is not stifled.
The Meta-Giphy case may indicate that a new set of principles for international antitrust law is taking shape. Apart from the potential minor yet significant loss that Meta might experience. Efforts to bust major tech giants might also pick up steam.