I am with the Bear. I don't really want IPP out there buying shares in every portal that becomes available. They will have too many businesses to nurse and nurture through the development phase, when they now have a core of businesses about to blossom. The spare funds would be much better spent consolidating their existing businesses.
I understand Deutsche Telekom is looking to exit its holdings in property portals, which could put Property Guru into play. They are a significant competitor in IPP's markets, so any purchase would be better directed at such opportunities
Regards Westwind
IPP Price at posting:
$2.71 Sentiment: None Disclosure: Held
