(Reuters) -Australian actual property agency REA Group stated on Monday it’s contemplating buying London-listed peer Rightmove (OTC:) through a attainable money and share supply.
REA Group, majority-owned by Information Corp (NASDAQ:), stated it had not but approached or had any discussions with Rightmove on a possible supply.
Rightmove, Britain’s largest property portal, had a market worth of 4.36 billion kilos ($5.73 billion), as of Friday’s shut.
Shares of Melbourne-headquartered REA Group, by which the Murdoch household owns greater than 61%, fell as a lot as 5.9% to A$206.01 by 0053 GMT.
Rightmove didn’t instantly reply to a Reuters’ request for remark.
“There could be no certainty that a proposal will probably be made,” the Australian firm stated in a press release.
REA Group now has to both lodge a agency bid for Rightmove or again out by Sept. 30, in accordance with the U.Okay.’s takeovers rule.
($1 = 0.7613 kilos)
