Editor's PickInvesting

Australian property giant backed by Rupert Murdoch’s News Corp looks at £4.4Bn Rightmove bid

1 Mins read

Australian property heavyweight REA Group, backed by Rupert Murdoch’s News Corp, is considering a £4.4 billion bid for Rightmove, the UK’s leading online property portal.

REA Group, which is listed on the Australian Stock Exchange, operates prominent real estate platforms such as realestate.com.au in Australia, and extends its reach into markets across Asia, India, and the US through brands like realtor.com.

The company is reportedly weighing a cash-and-share offer for Rightmove but has yet to initiate formal discussions. To finance the acquisition, REA may need to secure additional equity funding.

REA Group has until the end of September to submit a formal bid.

In a statement to the ASX, the REA board highlighted the strategic alignment between the two companies, noting their strong market positions in residential property, innovative service expansions, dominant audience share, and well-recognised brands. “REA sees a transformational opportunity to apply its globally leading capabilities and expertise to enhance customer and consumer value across the combined portfolio, creating a global and diversified digital property company with market leadership in both Australia and the UK,” the statement read.

Related posts
Editor's PickInvesting

UK SMEs must strengthen cybersecurity as geopolitical threats escalate, warns Espria

2 Mins read
UK small and medium-sized enterprises (SMEs) are being urged to bolster their cyber defences amid a growing wave of politically motivated attacks,…
Editor's PickInvesting

Starmer thanks business for footing tax bill

2 Mins read
Prime Minister Keir Starmer has publicly thanked Britain’s businesses for absorbing the financial burden of his government’s £23 billion national insurance hike,…
Editor's PickInvesting

420,000 more pensioners dragged into income tax net as threshold freeze bites

2 Mins read
An additional 420,000 pensioners will pay income tax this financial year, bringing the total to 8.7 million, as the combination of rising…
Power your team with InHype
[mc4wp_form id="17"]

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *