UK regulator set to block Meta’s Giphy deal – FT

(Reuters) – The UK competition regulator is expected to block Meta’s acquisition of online GIF platform Giphy in the upcoming days in an escalation of the watchdog’s assault on Big Tech, the Financial Times reported.

The Competition and Markets Authority is set to reverse the deal in what would be the first time the watchdog has reversed a Big Tech acquisition, FT reported, citing individuals close to the matter.

(Reporting by Sneha Bhowmik in Bengaluru; editing by Uttaresh.V)