July 9, 2018 / 7:23 AM / 2 months ago

Germany's Axel Springer bumps up stake in Britain's Purplebricks

July 9 (Reuters) - German publisher Axel Springer has increased its stake in Purplebricks Group to 12.5 percent, the UK real estate agent said on Monday.

Axel Springer, which bought 3 million Purplebrick shares for 3.07 pounds each, in March paid about 125 million pounds ($166.3 million) for an 11.5 percent stake in Purplebricks.

Purplebricks, which has challenged traditional operators in Britain such as Countrywide and Foxtons, ventured into the United States last year - its third market after Britain and Australia.

It reported a quadrupling of full-year operating loss on Thursday. ($1 = 0.7517 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amrutha Gayathri)

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