Facebook had to pause its integration with Giphy in June after the Competition and Market Authority said it wanted to investigate whether the deal. It also cleared Amazon's minority investment in Deliveroo last week after a lengthy investigation. Facebook was told by the United Kingdom's antitrust regulator to take action to ensure the Giphy unit it bought earlier this year can still be run independently. The CMA said there is "a general lack of independence of the Giphy business from Facebook" due to certain clauses in Facebook employment contracts that Giphy employees were transferred to. It also said members of Giphy's senior management team have left the business and Giphy employees have received restricted stock units in Facebook.

Source: News 24 August 10, 2020 13:29 UTC