Rightmove shares surged on Thursday on market gossip that the property portal could attract a takeover approach. The shares closed at 517.40p, a sharp jump, though nothing in the story has been confirmed.
The talk came from Betaville, which flagged one of its “uncooked” alerts. It said a trade buyer backed by a Gulf investment company may be interested in Rightmove. No investor was named.
Betaville added that some other people believe REA Group may be considering a fresh bid. REA, backed by Rupert Murdoch, abandoned its pursuit of Rightmove in 2024.
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Betaville is candid about the status of such items. It defines an uncooked alert as “market gossip” as it receives it. Its site says the scuttlebutt “hasn’t been checked with all of Betaville’s well-informed RARE sources let alone formal journalistic channels (public relations executives, bankers etc)”.
It goes further, saying: “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.”
What it means for traders
For UK investors, the point is that the move rests on talk rather than a disclosed approach. Rightmove has issued no statement, and the Gulf-backed suitor is unnamed.
Rumour-driven rallies can unwind quickly if nothing follows, and the gossip does not show that any offer will come. After a jump like this, the price carries speculation that may prove unfounded.
