Sept 11 (Reuters) - News Corp ( NWSA )-backed property

listing company REA Group ( RPGRF ) said on Wednesday that

Britain's largest property portal Rightmove ( RTMVF ) rejected its

5.6 billion pounds ($7.32 billion) buyout proposal.

Rupert Murchoch-owned REA did not cite any reason as to why

its takeover offer was rejected by Rightmove ( RTMVF ).

Under the part cash, part scrip deal proposal, REA

offered to pay a total of 705 pence for each Rightmove ( RTMVF ) share,

representing a premium of 27% to the U.K. company's closing

price of 556 pence on Aug. 30, after which REA confirmed

discussions.

The proposal was non-binding and subject to customary

conditions, including completion of due diligence to the

satisfaction of REA.

REA further said it will look to apply for a secondary

listing in London, which will give the company access to a wider

pool of investors.

($1 = 0.7645 pounds)