Australia’s largest property listings group REA, which is majority owned by Rupert Murdoch’s News Corp, has launched a third bid for UK rival Rightmove, valuing it at £6.1bn. REA made the cash-and-shares offer on Sunday based on a price of 770 pence a share, almost 9 per cent higher than its initial 705p offer at the start of the month.

Rightmove has said it will “carefully consider” a new £6.1bn bid from Rupert Murdoch’s property website business as the two sides move a step closer to a deal. REA Group, which is majority-owned by the media tycoon’s News Corp,

Rightmove turned down a $7.3 billion bid from the subsidiary of Murdoch’s News Corp., Reuters reported. Representatives of the listings portal said the cash-and-stock bid “fundamentally undervalued Rightmove and its future prospects.”