REA Group has initiated discussions for a potential acquisition of Rightmove, the UK's leading property portal, proposing a value above 5.5 billion.
The analysts believe REA's bid is opportunistic and point out that Rightmove is undervalued, with a projected rise in profits as the UK property market improves.
Rightmove's shares have shown significant movement following the news of REA's interest, indicating investor awareness of the company's valuation within the real estate sector.
This potential bid marks a significant move since the early 2000s when Lachlan Murdoch acquired a substantial stake in REA for a minimal investment.
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