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International Business Times
International Business Times
Business
AFP News

UNBELIEVABLE: Property website rightmove rejects gbp5 6 bn murdoch bid - Caught on Camera

Rightmove REA Group Rupert Murdoch News Corp United Kingdom Australia
UK online property platform Rightmove said the takeover bid by Rupert Murdoch's REA Group was 'wholly opportunistic' and undervalued the company (Credit: AFP)

UK online property website Rightmove said Wednesday it had rejected a multi-billion-pound takeover offer from Australian peer REA Group, majority owned by Rupert Murdoch's News Corp empire.

Rightmove said in a statement that the cash and shares proposal, worth GBP5.6 billion (US$7.3 billion), "was wholly opportunistic and fundamentally undervalued" the company.

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