Rightmove surges on Betaville takeover speculation

(Sharecast News) - Rightmove surged on Thursday after markets blog Betaville suggested the property portal was the subject of takeover speculation. According to a Betaville "uncooked" alert, a trade buyer backed by a Gulf investment company may be interested in Rightmove.

Betaville said some other people believe that REA Group may be considering a new bid for Rightmove after the company - which is backed by Rupert Murdoch - abandoned its pursuit of Rightmove in 2024.

Rightmove shares closed up 12% at 517.40p.

Betaville defines an "uncooked alert" as "market gossip" as it receives it.

In the description on its website, it says: "This scuttlebutt has just come in and hasn't been checked with all of Betaville's well-informed RARE sources let alone formal journalistic channels (public relations executives, bankers etc).

"The rumour might be total codswallop, nonsense or rubbish - but then again there may be something in it, so it's worth airing on Betaville."