ImmobilienScout24, Germany’s largest real estate website and a subsidiary of phone operator Deutsche Telekom, has acquired a stake in the Singapore-based peer PropertyGuru Group.

The company said it had acquired “a significant share” in PropertyGuru as a “strategic investor” for “a double digit million Singapore dollar” sum.

PropertyGuru is Asia’s leading property portal group with a presence in nine countries, directly and indirectly via partners. The company’s websites are used by 8.2 million buyers, viewing over 65 million property pages…

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