Property rivals in talks

SHareS in Countrywide fell after the estate agent said it was talking with a rival about a £500m merger.

The potential deal with lSl Property Services would create the UK’s largest estate agent, paving the way for big cost savings.

Both said there was no guarantee a deal would be struck. after the announcements, Countrywide shares fell 0.2pc, or 0.6p, to 339.6p. The estate agent owns brands such as Finders Keepers, Bairstow eves and Hamptons International.

a merger would create a business worth an estimated £470m, with 14,000 staff and 1,000 outlets.

Both parties have until March 23 to confirm whether there is a firm intention to make an offer.