Britain fines Facebook $70million for breaching order in Giphy deal

Britain’s competition regulator has fined Facebook 50.5 million pounds ($69.6 million) for breaching an order imposed during its investigation into the U.S. social media giant’s purchase of GIF platform Giphy, the agency said on Wednesday.

The Competition and Markets Authority (CMA) said Facebook had deliberately failed to comply with its order, and the penalty served as a warning that no company was above the law.

Facebook said it strongly disagreed.

The CMA said Facebook had failed to provide full updates about its compliance with requirements to continue to compete with Giphy and not integrate its operations with Giphy’s while its investigation was ongoing.

Facebook had refused to report all the required information, despite multiple warnings, the CAM said, and it therefore considered the failure to comply deliberate.

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