Gocompare rejects takeover bid

Zoopla owner ZPG is considering its options after Gocompare rejected its takeover approach.

ZPG made its initial approach in May, before coming back with a second offer, which valued Gocompare at £420m. But Gocompare labelled the bid ‘highly opportunistic’ and said it ‘fundamentally undervalues the company’.

It said it had made ‘significant progress’ since it demerged from Esure Group a year ago and reiterated its confidence about its full-year prospects.

ZPG said it is ‘currently considering its position.’ It has until 12 December to revive its interest.