Facebook fined €60m over handling of Giphy takeover probe

As part of the investigation, the social network was ordered to keep the two businesses separate until a conclusion was reached

The social network said it disagrees with the CMA’s ‘unfair decision’. Picture: Dominic Lipinski/PA

Facebook has been fined €60m after failing to provide enough important information to the competition regulator investigating the firm’s takeover of GIF sharing platform Giphy.

The Competition and Markets Authority (CMA) launched a probe into the acquisition in June last year, shortly after the deal was announced, over concerns about a “substantial lessening of competition”.