Meta Platform's forced sale of Giphy halted as UK court orders review

Meta Platforms Inc.’s purchase of GIF search engine Giphy will be sent back to the UK antitrust regulator for a further review after a court found concerns in the agency’s investigation approach.

A judge quashed the Competition and Markets Authority’s order that Meta must sell Giphy, according to a ruling made public Monday. The case will now be referred back to the CMA for the watchdog to reconsider whether the deal would reduce competition in the market for display advertising and social media services.

“We have agreed to reconsider our decision in light of this finding,” the CMA said in a statement,