Shares in Rightmove, the UK’s largest property portal, rose by 25% on Monday following the news that Australian property listings company REA Group, backed by Rupert Murdoch’s News Corp, is considering a potential acquisition. The deal would value Rightmove at £5.4 billion.

REA Group, which sees “clear similarities” between the two companies, described the potential acquisition as a “transformational opportunity.” Although no formal approach has been made, the company has until the end of September to make an offer under UK takeover regulations.

Rightmove, which dominates over 80% of the UK property listings market, has been navigating a challenging market with declining customer numbers due to the housing market downturn. However, the company reported a 7% revenue increase in the first half of 2024, driven by increased spending from its customers.

REA Group, which has seen its own shares drop by 7% following the news, has a history of international acquisitions and currently holds a strong position in the Australian housing market.

This type of acquisition is typical of the discussions that take place at UKREiiF, the UK’s largest real estate and property festival. If you’re interested in property networking opportunities across the UK, UKREiiF offers a great chance to connect with industry leaders nationwide.

To register your place at the UK’s biggest real estate and property festival, visit https://www.ukreiif.com/ukreiif-2025/.