Facebook Fights To Retain Giphy

Facebook ($FB@US) has made a case for not selling Giphy. Today, the social media giant submitted a strong response to Britain's competition regulator and questioned if the watchdog could order the U.S. company to divest the GIF-maker. Facebook believes the UK Competition and Markets Authority’s inability to issue any order against Giphy raises serious questions about the enforceability of any divestment order. Facebook bought Giphy for $400 million last year, and its response to the CMA states it finds the order to sell off the company “grossly unreasonable and disproportionate.” The Silicon Valley firm has been fighting the CMA for more than a year after it completed the Giphy deal before seeking approval from the UK or other authorities. The company remains in the eye of the storm as global regulators crackdown on big tech takeovers of potential smaller rivals.