Market Chatter: REA 'Unlikely' to Make New Rightmove Bid after CEO's Surprise Retirement, Citi Says

MT Newswires Live

Feb 06, 2025

REA Group's (ASX:REA) Chief Executive Officer Owen Wilson's unexpected announcement to retire later in the year, has raised doubts about the company's future efforts to acquire UK-based Rightmove, particularly following their previous failed 5.6 billion pound sterling bid, according to a Thursday report by The Australian citing investment and financial services firm Citi.

Citi analyst Siraj Ahmed noted that while the six-month restriction on the bid ends in March, Wilson's departure could make another bid unlikely in the near term.

The investment firm maintained REA's buy rating and price target of AU$230.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"REA.AU","symbol_name":"REA GROUP LTD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2509214403","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509214403","pubTimestamp":1738824645,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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