News Corp: REA Group considers a bid for Rightmove

(CercleFinance.com) - REA Group, News Corp's Australian subsidiary specializing in online property advertising, confirms that it is considering a possible cash and share offer for Rightmove, the UK's leading Internet property advertising portal.


Our Board believes that there are clear similarities between REA and Rightmove, the group explains, which points to their strong market positions in the core residential business, as well as continued expansion and innovative offerings in adjacent segments.

However, REA Group states that it has not approached or held discussions with Rightmove regarding a potential offer, and warns that there can be no certainty that an offer will be made, nor on the terms of any potential offer.


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