Connells sells stake in Rightmove


In a dramatic move on the stockmarket, estate agency Connells has today sold its 18% stake in property search website operator Rightmove.

Connells is reported to have sold 21.2 million shares in the company at 155 pence each – realising about £32.9million.

Rightmove shares dropped on the news – falling 16% (20p) at 163 pence by 11.30am.

With many estate agents already frustrated by the website does this sell-off signal the beginning of the end for Rightmove? Tell us what you think using the comment section below