British online property portal says new proposal undervalues the company

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The British online property portal Rightmove has rejected an improved £6.1bn takeover proposal from billionaire Rupert Murdoch’s REA Group, saying it undervalued the company.

The problem is, the stimulus measures will take time to show in the economic data. And more worryingly, they won’t do much to fix the country’s deepest issues – they won’t reverse local governments’ heavy debt burden, China’s aging population, and will hardly boost the demand-led growth. As such long-term investors appreciate the efforts but prefer to watch from a distance for now.

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