Australia's REA Group's attempted takeover of Rightmove has been a boon for the UK portal's shareholders, as the company's recent share price growth appears to have stalled.
It was trading at around 5.70p per share before REA Group's intervention, and although it initially soared to £7.08, it has now settled at 6.25p, still 10% higher than a few weeks ago. 
This confirms the view of Citi investment banking giant Panmure Liberum, which said yesterday that On the Market's attempt to compete with RightMove at high prices led to LiteMove's share price falling in October last year, and the portal's He said it did not reflect its true value.
However, industry commentator Russell Quirk disagrees, saying Coster's recent acquisition of On the Market means a “third” portal could “easily follow suit”. Yesterday's statement from Rightmove is optimistic, saying, “We have a clear strategy for long-term growth.''
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The portal also said it was “well positioned to leverage unparalleled market data and insights to drive innovation and digitization across the entire real estate transaction chain,” which will be available for agents. This would represent a significant departure from its traditional role as an advertising portal.
“This is why Rightmove shareholders are eyeing the REA Group gift horse. They believe the estate agent could be squeezed out of even more money,” he says. “According to previous announcements, this could mean the average agent spend increases from £1,300 to £2,000 per month.
“In my opinion, I don't think agents will tolerate portal costs increasing by 50% like that and Rightmove is going to lose agents massively. And who will take them on in their place? What are you waiting for? Yes, Zoopla and OnTheMarket.
