Meta Loses Most of UK Antitrust Appeal Over Giphy Deal (1)

Meta Platform’s Inc. mostly lost its court bid to overturn the UK antitrust regulator’s decision that the acquisition of GIF search engine Giphy raised serious competition concerns.

The Competition Appeal Tribunal said Tuesday that it “unanimously dismissed” all but one of Meta’s arguments against the findings of the probe which ended with an order to unwind the deal. However, judges did find that the watchdog didn’t consult properly on certain aspects of the merger probe.

The panel of judges said that more evidence is needed about the “procedural failure that we have identified” and whether it means they need to ...