Meta Agrees to Sell Giphy After Order from U.K.'s Top Competition Authority

Facebook owner Meta Platforms Inc. said it would sell its social-media animated-images company Giphy after the U.K.’s top competition authority affirmed an earlier order to undo the 2020 acquisition. Facebook’s announcement all but ends a yearslong saga in which a foreign regulator made a rare intervention in an already-consummated deal between two American companies.

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