Green tick for deal

ONLINE property advertiser REA Group has received the consumer watchdog’s approval of its $130 million acquisition of property data company Hometrack Australia.

The Australian Competition and Consumer Commission yesterday said it will not intervene in the acquisition, which was announced in early May and is due to be completed in the coming days.

REA Group, which is majority owned by News Corp, publisher of the Gold Coast Bulletin, says Hometrack will enable realestate.com.au to deliver more property data and insights to its customers.