Purplebricks 'in play' as Axel Springer doubles stake


German media giant Axel Springer has more than doubled its stake in Purplebricks, paving the way for a potential takeover of the troubled online estate agent.

Axel Springer has paid £43.7m to increase its holding in the company from 12.4% to 26.6%. It acquired the shares from the group’s co-founders Michael and Kenny Bruce.

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