Feb 4, 2022

5:07 PM IST, 04 Feb 2022 3:57 PM IST, 04 Feb 2022 5:07 PM IST, 04 Feb 2022 Save (Bloomberg) -- Meta Inc. was fined 1.5 million pounds ($2 million) from the U.K.’s competition regulator for breaching an enforcement order during its Giphy merger probe, the latest twist in an increasingly messy fight for control of the GIF search engine. (Bloomberg) -- Meta Inc. was fined 1.5 million pounds ($2 million) from the U.K.’s competition regulator for breaching an enforcement order during its Giphy merger probe, the latest twist in an increasingly messy fight for control of the GIF search engine. The Facebook parent failed to inform the Competition and Markets Authority that three “key” U.S. employees had left the company, a breach of its merger investigation rules, the regulator said on Friday. “Meta failed to alert us in advance to important changes in their staff, despite knowing they were legally required to do so,” said Joel Bamford, senior director of mergers at the CMA. “This is not the first time this has happened.”  The regulator has taken a tough line against Meta on the deal, and already fined the tech giant 50.5 million pounds for breaching its rules last year. Meta is appealing the CMA’s decision ordering the social network to unwind its $315 million purchase of Giphy, and a hearing is set for April 25 at the U.K.’s Competition Appeal Tribunal.