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.
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