Can the UK really force Facebook to sell Giphy?

The UK’s antitrust regulator ruled on Nov. 30 that Meta Platforms, Facebook’s parent company, must sell Giphy, a GIF database and search engine it purchased for $315 million in 2020. The Competition and Markets Authority (CMA) said that the acquisition could harm British social media users and advertisers. The CMA found that Meta’s control of Giphy could negatively affect competitors like TikTok, Twitter, and Snapchat if Meta denied them access or required more data from competitors.