By Rob Lenihan British authorities have dealt the social media giant a sharp defeat over a recent acquisition. Nearly a year ago, British regulators issued an order to Facebook parent Meta Platforms (META) – Get Meta Platforms Inc. Report. The U.K. Competition and Markets Authority (CMA) told the social media giant that it had to sell GIF-sharing platform Giphy, which it purchased in 2020 for a reported $400 million. The agency said the acquisition could harm social media users as well as U.K. advertisers. Meta, which also owns Instagram and WhatsApp, appealed the decision, but the ruling was …