UK Landlord Forum / Life

I didn't realise, but Halifax owned a large share in Rightmove.

Quote

HBOS today sold-off its entire 13.1 per cent shareholding in Rightmove just weeks after the property website warned that rising estate agent closures would have an "adverse impact" on the business.

HBOS, one of the four founding shareholders in Rightmove alongside Countrywide, Connells, which is part of Skipton Building Society and Royal & Sun Alliance, sold 16.2 million shares and raised £59.2 million, just two years after the company floated on the London Stock Exchange.

The move surprised investors today, who sent shares in the company down 5.06 per cent, or 19.5p, to 366p in early trading - just 9.2 per cent above the group's float price when it made its market debut in March 2006.

A spokesman at HBOS, which held the shares through its Halifax Estate Agencies business, says it will still have a close commericial relationship with Rightmove, but will no longer hold shares in the group.

Full article here

You have to think they know something we dont, jumping ship springs to mind !

Quote from: Uncle Norman on May 19, 2008, 12:07:57 PM
You have to think they know something we dont, jumping ship springs to mind !

Well, a lot of estate agents are going out of business, so I imagine their revenue is dropping like a tonne of bricks at the moment.

I just hope the greedy agents of the world have invested their greed money that they have got out of us over the years.
I would hate to see then having to sell their high end greed cars.