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GCQ's Doug Tynan tips REA bid to ignite Rightmove bidding war

Rising Sydney hedge fund GCQ has bet big on REA’s next acquisition target Rightmove – but has warned it won’t go cheaply.

Jack Derwin
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REA Group could ignite a bidding war for Rightmove. AAP/Diego Fedele.

There’s not even a formal offer on the table yet but REA Group may face a fight if it wants to snap up £5.3 billion ($10 billion) UK listings business Rightmove.

At least that is the view of rising Sydney hedge fund GCQ, which has bet big on Rightmove and other digital real estate listings businesses.

Started by former VGI Partners lieutenant Doug Tynan, GCQ began building Rightmove into one of its most substantial positions last year and now that it's in play, expects REA won’t be the only party interested.

“We thought Rightmove’s market position was virtually impregnable and the share price was trading at irrationally low levels. It seems REA agrees with this analysis, while a competing bid from the likes of Costar also looks likely to us,” Tynan told Capital Brief.