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TODAY'S OTHER NEWS

Major GoCompare investor reported to be seeking higher ZPG offer

News agency Reuters says a top five shareholder in price comparison service GoCompare says the firm should respond “positively” if ZPG makes a larger offer for the firm. 

Last week it was revealed that ZPG - owner of the Zoopla and PrimeLocation portals and agency support services such as the Property Software Group and Hometrack - made an unsolicited proposal to acquire GoCompare, which it valued at £460m. 

Reuters says the GoCompare shareholder did not wish to be identified but said a link-up with ZPG would “provide good synergies not available to either company on a standalone basis”.

The agency also reveals that ZPG made an initial approach in May. 

“The board of GoCo should react positively to a primarily paper offer in the region of 125 pence”, the shareholder told Reuters. 

ZPG already owns price comparison businesses Money.co.uk and uSwitch. 

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