Investors back activist’s call for News to sell REA stake
Joshua PeachMarkets reporter
Updated
A push for News Corp to offload its majority stake in REA Group could open up the ASX-listed real estate giant’s register to a flood of new capital.
Activist investor Starboard Value declared in a presentation on Tuesday that News is “significantly undervalued” and that unloading its 61 per cent stake in REA could help unlock more than $US7 billion ($11 billion) for News shareholders.
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