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Hedgefund bets again on online agencies as it buys up Purplebricks stock

A City hedge fund that has backed several online estate agents including HouseSimple and EasyProperty has increased its holdings in Purplebricks.

Toscafund Management yesterday informed the London Stock Exchange that it had acquired nearly three million extra Purplebricks shares making it the eighth largest holder of the company’s stock with a total share now of 5.64% of the hybrid estate agency.

Purplebricks (LON:PURP) is the leading next generation estate agency in the UK with operations in the US and Canada that combines highly experienced and professional Local Property Experts (Local Real Estate Experts in the US) and an innovative use of technology to help make the process of selling, buying or letting so much more convenient, transparent and cost effective. Purplebricks is transforming the way people perceive estate agents and estate agency.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.