Property brokers may succumb to M&A in battered UK market

London

WITH no let-up in sight for listed UK real estate agents, the companies could find themselves the targets of a wave of M&A activity.

So say industry analysts and executives, who note that traditional high-street players like Foxtons Group plc and Countrywide plc face a stagnant housing market while losing market share to online competitors. Investors are running out of patience - their shares have tumbled by almost a quarter and more than half in the past year, respectively, compared with a modest gain in the FTSE Small-Cap Index.