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Tom Richardson

SPAC mania could reach REA Group

News Corp-backed REA Group’s investments in Asia have been a textbook waste of money so far, but it may get some small consolation if Morgan Stanley is on the money.

The bank’s analysts reckon another investment craze sweeping markets could help lift the value of the iProperty Asian assets REA group recently swapped for a 16.3 per cent stake in Singapore-based property portal PropertyGuru. 

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Tom Richardson was a journalist at The Australian Financial Review

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