One of Rightmove’s biggest investors, Sydney-headquartered GCQ Funds Management, has written to the board of the British real estate listings platform and urged it to engage with News Corporation’s REA Group and its $12 billion takeover bid.
REA, which owns realestate.com.au, has made two offers since it confirmed it was exploring a major M&A deal this month. Both offers were quickly knocked back, and REA on Monday criticised Rightmove’s board for a “lack of engagement”.
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Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
