Facebook could be forced by UK watchdog to sell gif creator Giphy

Site aims to integrate service with Instagram which could see Facebook withdrawing gifs from competing platforms'

Facebook could be forced to sell gif creation website Giphy after an investigation by the UK competition regulator found its takeover could harm competition among social media companies and the digital advertising market.

The Competition and Markets Authority (CMA) launched an in-depth investigation earlier this year into Facebook's acquisition of Giphy, the largest supplier of animated gifs to social networks such as Snapchat, TikTok and Twitter, after identifying a number of concerns about the $400m (290m) deal which was struck last year.