REA Group’s interest in Rightmove, the largest property-listing platform in the United Kingdom, makes financial sense but lacks any strategic purpose with few possible cost savings, investment bank brokers have cautioned.

Shares in Rightmove soared 27 per cent overnight after the News Corporation-controlled REA, the largest real estate platform in Australia, confirmed a report in The Australian Financial Review’s Street Talk column that it had hired Deutsche Bank as a financial adviser to mull a bid for the London-listed company.