Australian property listings company REA Group, majority owned by Rupert Murdoch’s News Corp, is considering a takeover bid for UK rival Rightmove.
REA said it saw “clear similarities” between the two businesses and a potential acquisition as a “transformational opportunity”.
It said: “The REA board believes the enlarged group would represent a highly attractive investment opportunity for both REA and Rightmove shareholders, combining robust growth with strong margins and significant cash generation, enabling continued capital appreciation and shareholder returns. REA therefore considers that a combination of the two businesses would provide a significant opportunity to unlock shareholder value.”
