Facebook criticises UK competition watchdog’s concerns over Giphy takeover

Facebook’s response described the CMA’s complete divestiture remedy as “grossly unreasonable and disproportionate”, and questioned the watchdog’s authority to enforce such action.

The CMA is set to release its final report on the deal in October. Picture: Dominic Lipinski/PA

Facebook has hit back at the UK’s competition watchdog for suggesting it may force the company to undo its multimillion-pound takeover of Giphy, saying that provisional findings contain “fundamental errors”.

The Competition and Markets Authority (CMA) previously said it might force the $400m (€338.4m) acquisition to be reversed.