Decision comes after UK real estate portal turned down fourth offer from Australian property company
Nils Pratley: The Murdochs just couldn’t afford Rightmove
The Rupert Murdoch-backed real estate company REA Group has abandoned its attempt to take over the website Rightmove after its fourth offer was rebuffed on Monday.
The Australian group majority-owned by Murdoch’s News Corp announced 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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