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The Guardian - UK
The Guardian - UK
Business
Graeme Wearden

Murdoch-backed REA abandons attempt to take over Rightmove

REA Rightmove REA Group Lachlan Rupert Murdoch Rupert Murdoch News Corp
Illustration shows the Rightmove logo on a desktop screen and smartphone
Rightmove controls more than 80% of the UK online property market. Illustration: Dado Ruvić/Reuters

The Rupert Murdoch-backed real estate company REA Group has abandoned its attempt to take over the website Rightmove after its fourth offer was rebuffed on Monday.

The Australian group majority-owned by Murdoch’s News Corp announced that it had decided not to make a formal bid, hours after Rightmove’s board rejected its £6.2bn proposal made on Friday.

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