Purplebricks CEO Vic Darvey has revealed that the company is ‘not for sale’ in comments to a national newspaper over the weekend.
Darvey told The Telegraph website that despite persistent rumours that the company may be sold or face a takeover, he insisted this is not the case.
Over the past six months the rumours have begun to swirl after the company exited initially from Australia and then from the US, leading many to believe its weakened state may lead to a takeover or sale of some sort.
Many believe a bid is already under way from German media firm Axel Springer, which in June doubled its stock holding in the company. It now owns just over 26% of the struggling hybrid estate agency.
Over the weekend Darvey also revealed that he expects Purplebricks to eventually take between 20% and 30% of the overall UK sales market and that Axel Springer is ‘on board’ with this ambition.
Industry figures suggest that Purplebricks currently holds approximately 5% of the property market.
Purplebricks’ CEO confirmed that the company hopes to keep its stockmarket listing despite its share price nose diving over the past 12 months, and also defended its fixed-price fee model, despite recently revealing that the company is considering changing how much, and when, it charges customers to sell their home.