Murdoch’s REA Group ends takeover interest in Rightmove

The Australian property firm has given up its pursuit of Rightmove after having a fourth bid rejected

Rupert Murdoch
(Image credit: Getty Images/Drew Angerer)

REA Group, which is majority-owned by Rupert Murdoch's News Corp, has withdrawn its interest in buying UK property website Rightmove.

The move comes after Rightmove rejected a fourth takeover bid from REA earlier on Monday (30 September), which valued the UK online property firm at £6.2 billion.

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Chris Newlands

Chris is a freelance journalist, and was previously an editor and correspondent at the Financial Times as well as the business and money editor at The i Newspaper. He is also the author of the Virgin Money Maker, the personal finance guide published by Virgin Books, and has written for the BBC, The Wall Street Journal, The Independent, South China Morning Post, TimeOut, Barron's and The Guardian. He is a graduate in Economics.