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Competition Court of Appeal United Kingdom ordered antimonopoly supervision (SMA) of a country reconsidering its decision to enforce Target sell gifi.
In a report marked bloombergsays it could now take up to three months for a response, which would put a hold on the possible sale of giant GIFs.
Meta saved, for now
The error occurs after Target has largely lost its appeal against SMA. The court sided with the watchdog in five of the agency’s six lawsuits against the company.
However, in the only decision taken in favor of Targetthe court said that SMA did not properly inform the company about the acquisition of Gfycat via Snapchat, which undermined his defenses. Now the body must not only reconsider its decision, but allow Meta to comment on the unedited version of its report.
“Today’s decision established that the approach SMA in its investigation was “difficult to defend” and “undermines the whole decision,” the company said after the initial Competition Court of Appeal ruling. “We look forward to understanding how these serious process flaws will be addressed. We firmly believe that our investment will improve the product gifi for the millions of people, businesses and partners who use it.”
spent millions
SMA indicates that the acquisition gifi on Target will increase traffic to their sites such as WhatsApp and Instagram, a figure that currently garners 73% of users in United Kingdom. The company paid $315 million for the venture.
A month after the announcement, in June 2020, the regulator launched an investigation into the purchase. By August 2021, he noted that the ownership of gifi on Target could allow the company to prevent competitors such as TikTok and Snapchat from accessing the library. GIFs from GIF.
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Source: RPP
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.