It seems odd for the CMA to order a sell off when Facebook and Giphy are both US companies.

Wouldn’t it make more sense to require Giphy UK to cease trading, and force Facebook UK to compete on its own? UK authorities policing UK companies and all.

(Please don’t respond to this as a hot take on globalisation — my comment is a serious question about how the UK competition authority can be most effective, not a wide eyed lamentation on why we can’t have world peace etc.)