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Purplebricks share price leap triggers takeover rumours

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first_imgHome » News » Agencies & People » Purplebricks share price leap triggers takeover rumours previous nextAgencies & PeoplePurplebricks share price leap triggers takeover rumoursHybrid agency’s share price has increased by 20% since the General Election although its over stock performance during 2019 has been poor.Nigel Lewis30th December 201901,772 Views Purplebricks shares carried on rising in value over the Christmas period after the initial boost given to the company’s stock by the Conservative win during the General Election.The 20% increase in its share price from £1.05p on 12th December to £1.26p a share at the start of trading today is, industry consultant Andrew Stanton says, a sign that a takeover may be in the offing.The most likely buyer would be existing major shareholder and German media giant Axel Springer, which may be planning to offer other shareholders a premium price for their stock and take the estate agency back into private ownership.But Purplebricks is not the only property industry PLC to see its stock carry on rising in value after the General Election.Shares in Savills, Countrywide, Rightmove and Foxtons have also been rising alongside Purplebricks as the City shares feeding frenzy has continued following the election. Savills’ shares have increased by 20% since the election, Rightmove’s by 10% and Foxtons by nearly 30%.But Purplebricks improved stock price is happy ending to a miserable year. The company’s shares have been tumbling over the past 12 months, kicking off 2019 at £1.81 before tumbling to 90p in late May as news of its struggling operations in Australia and the US reached investors. The company exited both markets in September.Andrew Stanton Purplebricks axel springer Countrywide Foxtons December 30, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img


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