Murdoch-backed REA abandons attempt to take over Rightmove
by Graeme Wearden from World news | The Guardian on (#6R3TV)
Decision comes after UK real estate portal turned down fourth offer from Australian property company
The Rupert Murdoch-backed real estate firm REA Group has abandoned its attempt to take over the website Rightmove after its fourth offer was rebuffed on Monday.
The Australian property group majority owned by Murdoch's News Corp announced on Monday 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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