Yes it has had an impact on IPP's price, but as more news comes...

Yes it has had an impact on IPP's price, but as more news comes out about Propertyguru, the impact is diminishing.

Both IPP (twice) and REA have had a look at Propertyguru and both came to the same conclusion - that it was not worth what they were asking for it. Hence REA's decision to buy into IPP, not Propertyguru. My understanding is that Propertyguru's revenue is way behind IPP's and they are nowhere near breaking even.

This view has been reinforced by Ivor Ries analysis, discussed in today's AFR Street Talk column, where he states that their leads in Malaysia and Indonesia were purchased from search engines and referral sites rather than being generated organically. He also states their performance in Thailand has been a "disaster".

It will be interesting to follow Macquarie and UBS's sales pitch to see if they can turn it into a silk purse.