(Reuters) - Rupert Murdoch-owned property listings firm REA Group ( RPGRF ) has made an initial takeover offer for Britain's Rightmove ( RTMVF ), Bloomberg News reported on Tuesday citing people familiar with the matter.

News Corp-backed REA Group had last week announced its interest in buying Rightmove ( RTMVF ) to create a global real estate company. The current market capitalization of Rightmove ( RTMVF ) is about $6.92 billion, making it Britain's largest property portal.

REA has submitted an initial proposal valuing Rightmove ( RTMVF ) at around 700 pence per share, according to the report. The offer would represent a premium of 26% from the closing price on Aug. 30.

Discussions are ongoing and there is no certainty a deal will result, the report added.

Rightmove ( RTMVF ) declined to comment, while REA did not immediately respond to a Reuters request for comment.

REA now has until Sept. 30 to make a formal offer for Rightmove ( RTMVF ), under the UK's takeover rules.