According to reports, Facebook IncToday responded strongly to the UK's Fair Competition and Market Authority (CMA), saying that the sale of all shares in Giphy, an online dynamic GIF image search engine, would be "very unreasonable and inappropriate".
In addition, whether CMA has the right to veto the deal is debatable. As early as May 2020, Facebook Inc announced the acquisition of Giphy and deeply integrated Giphy with Facebook Inc's application Instagram.
Although Facebook Inc has completed the deal, CMA said in the middle of last month that Facebook Inc might be forced to abandon the deal and sell all of Giphy's shares again.
CMA is mainly concerned that the deal will hurt the interests of other social networking sites, saying that Facebook Inc may use the acquisition to deny other social media platforms access to Giphy's GIF images.