+
Australia's REA Group Mulls Acquisition of UK's Rightmove
Real Estate

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

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.

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.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code