REA Looks Unlikely to Take Near-Term Tilt at Rightmove -- Market Talk

Dow Jones

02-06

2341 GMT - The retirement of REA Group CEO Owen Wilson suggests to Citi analyst Siraj Ahmed that the Australian real-estate advertiser is unlikely to make another near-term takeover tilt at U.K. counterpart Rightmove. Ahmed points out that the six-month restriction period that followed REA's unsuccessful move for Rightmove expires in late March. Wilson is scheduled to retire in 2025. Ahmed writes in a note that he does not see guidance for higher costs as a big negative given that the increase is revenue-related. Citi has a buy rating and A$230.00 target price on the News Corp-controlled classifieds group. Shares are down 2.3% at A$246.02. News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 05, 2025 18:41 ET (23:41 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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