UK refers Facebook acquisition of Giphy for in-depth probe

Britain on Thursday referred Facebook Inc's acquisition of GIF website Giphy for an in-depth probe after the U.S. social media giant told the country's competition watchdog it would not be offering any undertakings to address its concerns.

The regulator last week gave Facebook and Giphy five working days to offer proposals to address its concerns over their merger deal, which could affect digital advertising and the supply of animated images.