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Facebook fined Rs 520 crore by UK regulator for violating order in Giphy acquisition

Shortpedia

Content Team
Image Credit: Shortpdia

Britain's competition watchdog fined Facebook 50.5 million pounds ($69.4 million) on Wednesday for violating rules during the UK investigation into the social media giant's purchase of Giphy. The Competition and Markets Authority said Facebook failed to provide the required information during the probe. It said it gave the platform multiple warnings and considers that Facebook's failure to comply was deliberate".