IFP Buys Rightmove Stake, Sparks Takeover Speculation

Activist investor IFP buys significant stake in Rightmove, adding pressure to the company. IFP, known for pushing for changes in companies they invest in, now owns nearly six percent of Rightmove, making them the third-largest shareholder. This move comes after Rightmove announced slowing profit growth due to AI investments. IFPs involvement sparks speculation about a potential takeover, as Rightmove previously turned down a six billion pound offer from an Australian property company. Rightmoves shares have fallen by over thirty percent in the last six months, making the company an attractive target for investors. The company also faces a one billion pound lawsuit from estate agents. With IFP on board and share price down, all eyes are on Rightmoves next strategic moves.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.