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Meta’s Giphy play tests the UK antitrust regulator’s mettle; and the Archegos scandal’s legacy
06 May 2022 00:00
There’s a lot riding on Meta’s recent attempt to overturn a decision by the UK’s competition watchdog to block the tech giant’s acquisition of Giphy, an online database of gifs — visual aids popular in social-media postings. It’s significant because it’s the Competition and Markets Authority’s first ever prohibition of a Big Tech deal; the case in the Competition Appeal Tribunal could also illustrate how a completed global deal may be affected by the recalcitrance of one, significant jurisdiction. Also on today’s podcast: How the regulatory reverberations of the Archegos scandal in the US are raising concerns among activist shareholders.
UK prohibition of a Big Tech deal will be tested in court as Meta Platforms fights to get an order requiring it to unwind its purchase of Giphy quashed
Archegos-driven US SEC swaps plans, touted by Gensler, draw fire over effect on shareholder activismSEC to do some tinkering if it wants to avoid possible lawsuits that could lead to an overhaul of the security-based swaps rules