REA Group, majority owned by News Corp, is considering a bid for Rightmove, which has seen shares surge 25%, reflecting market excitement over potential takeover.
Rightmove has maintained its position as the UK's leading property portal, with estate agents relying on it for advertising, though competition is intensifying from new entrants.
Despite considering a takeover of Rightmove, REA Group has indicated there are no ongoing discussions, and the timeline for a formal offer is tight under UK takeover rules.
In the competitive UK market, Rightmove's valuation rose to £5.4 billion following news of REA's interest, showcasing the volatility and potential shifts in property advertising.
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