REA confirms it wants to buy UK counterpart Rightmove

REA Group is considering a takeover of Rightmove, the United Kingdom’s largest property platform, in a deal that could cost more than $9 billion and transform the ASX-listed, News Corporation-backed real estate giant into a global player.

REA told investors on Monday it was considering “a possible cash and share offer for the entire issued and to-be-issued share capital of Rightmove”, citing “clear similarities between REA and Rightmove” that would allow it to build a global empire.

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