Merger Update

Initial Enforcement Order

The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on 9 June 2020, in relation to the completed acquisition by Facebook, Inc of Giphy, Inc.

The text of the order has been published on the Competition and Market Authority's web site at https://www.gov.uk/cma-cases.

Invitation to comment closes on 3 July 2020

The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction has resulted in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

These comments should be provided by the deadline set out above to:

Sophie Mitchell

sophie.dmitchell@cma.gov.uk

Or

James McGarrachan

james.mcgarrachan@cma.gov.uk