NEWSFLASH! OnTheMarket to be bought out in £100m sale – reports Sky – London Wallet

Sky News is reporting that CoStar Group, a $33billion U.S. property group, is to buy OnTheMarket in a deal that is expected to be announced tomorrow.

The OnThe Market Board is expected to recommend the offer to shareholders and the price will show a large premium on OTM’s closing share price today of 70.5p

A source reoported to the close to the negotiations is reported as saying the deal will give OnTheMarket the wherewithall to take on both Rightmove and Zoopla for top portal position.

More as we get it.