How to make clickable anchor in contentEditable div?

Just wrap the link in another div, like so:

<div contentEditable="true">

    <div contentEditable="false">
            Bla bla <a href="http://google.com">Google</a> Bla bla
    </div>
</div>​

Make the link itself uneditable (works at least on HTML5):

<a contenteditable="false" href="http....... >