Australia's REA Group Mulls Acquisition of UK's Rightmove

03 Sep 2024 CW Team

REA Group, a property listings company largely owned by News Corp, is contemplating the acquisition of Rightmove to establish a global real estate enterprise, according to the Australian firm?s announcement on Monday. This potential move caused Rightmove's shares to spike.

The shares of Rightmove, which is listed in London, surged by 24 per cent to 6.89 pounds, reaching their highest level since March 2022. The stock became the top percentage gainer on the FTSE 100 index. Rightmove chose not to provide any comment on the situation.

As of the close of trading on Friday, Rightmove, the largest property portal in Britain, had a market value of $5.73 billion. The company generates revenue from listing real estate agents on its platform.

Analysts at Investec, in a note, concurred with REA?s view that the proposed offer and the potential expanded group represent a highly attractive investment opportunity, given the current easing interest rate environment in the UK and the positive returns from recent new investments. Shares of REA, in which News Corp, controlled by the Murdoch family, holds a stake of over 61 per cent, ended the day 5.3 per cent lower at A$207.4, making it one of the biggest losers on the benchmark.

Should the acquisition proceed, it would be the largest deal of its kind this year involving an Australian company acquiring an overseas firm, according to data from LSEG. Additionally, it would rank among the largest deals for a UK-listed company this year.

REA indicated that it is considering making a potential cash and share offer for Rightmove but stated that it had not yet approached or engaged in discussions with Rightmove.

Infrastructure Energy

14 Oct 2025

Mizoram To Build Rs 139 Billion Pumped Storage Power Plant

Mizoram Chief Minister Lalduhoma on Friday announced plans to construct a 2,400 MW pumped storage hydroelectric power plant in Hnahthial district, marking a major step towards achieving energy self-sufficiency in the state. Addressing the Mizo Students’ Union general conference in Hnahthial town, the Chief Minister said the plant would be developed across the Darzo Nallah, a tributary of the Tuipui river. Once operational, the project is expected to play a pivotal role in meeting Mizoram’s rising electricity demand and reducing dependence on imported power. Officials from the State Power..

Centre Plans Nationwide Opening Of Power Retail Market

India is preparing to open up its retail electricity market to private companies nationwide, effectively ending the long-standing monopoly of state-run power distributors in most regions, according to a draft bill released by the Union Power Ministry on Friday. The move will enable major private sector players — including Adani Enterprises, Tata Power, Torrent Power, and CESC — to expand their presence across the country’s electricity distribution landscape. A similar reform attempt in 2022 had faced strong opposition from state-run distribution companies (discoms), which currently dom..

CEA Sets 100 GW Nuclear Target For India By 2047

In a landmark step marking its 52nd Foundation Day, the Central Electricity Authority (CEA) unveiled an ambitious roadmap to develop 100 gigawatts (GW) of nuclear power capacity by 2047, aligning with India’s long-term Net-Zero commitment and energy security objectives. The event, held at the Central Water Commission auditorium in New Delhi’s R.K. Puram, was attended by Pankaj Agarwal, Secretary, Ministry of Power, who served as the Chief Guest. The roadmap sets out a detailed plan to expand India’s nuclear capacity from its current level of approximately 8,180 MW as of early 2025, outl..