Getty Images Holdings, Inc. ( GETY ) shares were trading lower but have since reversed and begun trading higher. The company announced it received notice from the UK’s Competition and Markets Authority that it referred the proposed merger with Shutterstock, Inc ( SSTK ). to a Phase 2 review process.

GETY is gathering positive momentum. See what is happening here.

What To Know: Getty Images ( GETY ) said it received notice from the UK's Competition and Markets Authority that the regulator has referred the company's proposed merger with Shutterstock ( SSTK ) to a Phase 2 review.

The company said it offered "comprehensive remedies" to avoid the extended review and is "disappointed" in the decision. Getty Images ( GETY ) added it remains committed to the merger and plans to continue working with Shutterstock ( SSTK ) and the CMA to secure required approvals "expeditiously."

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GETY Price Action: At the time of writing, Getty shares are trading 1.33% higher at $1.90, according to data from Benzinga Pro.

Image via Shutterstock ( SSTK )