0840 GMT - Rightmove, the U.K.'s largest property portal, could face increased competition once property portal Zoopla comes under new ownership, Citi says in a note. Zoopla, the U.K.'s second largest property portal, is being put up for sale with a price tag of around 500 million pounds by its owners Silver Lake partners, which acquired it as part of a 1.6 billion pounds deal in 2018. The country's third-largest property portal, OnTheMarket, continues working to grow leads and brand awareness, challenging Zoopla's position through this, Citi says. Zoopla moving to new ownership could further accelerate Rightmove's plans around innovation and boosting strategic growth areas, Citi says. Rightmove shares are down 0.3% at 735.40 pence but are up 42% over the past 12 months. (anthony.orunagoriainoff@dowjones.com)
(END) Dow Jones Newswires
May 01, 2025 04:40 ET (08:40 GMT)
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