In an official announcement by the AdC on September 26, 2025, it was declared that the procedure for analyzing the Idealista/Portal47 operation was concluded, as the notified concentration operation will not proceed.
On Wednesday, Idealista revealed its decision to withdraw from acquiring Portal47, the company managing the Kyero portal, citing “the scrutiny of the Competition Authority” and the AdC’s move to take the operation into a second phase, which rendered the deal unfeasible.
The Idealista website stated, “The AdC caused a significant delay in the operation’s closure, harming Idealista’s interests, prompting the company to abandon this acquisition.”
The platform also criticized the Portuguese regulator’s actions.
“We do not rule out the possibility that the AdC may have wanted to use the acquisition of a smaller portal to comment on Idealista’s future activities,” a company spokesperson said.
The AdC dismissed Idealista’s criticisms, expressing the lack of any initiative from the group to address the identified concerns.
“Idealista initially presented the operation as merely acquiring a ‘player’ with a negligible market share,” the regulator stated, but “during its investigation, the AdC verified that various market participants viewed Kyero as a relevant company, even as one of the main competitors in the international segment of online real estate platforms,” the regulator emphasized.
At the beginning of June, the AdC decided to proceed with a “thorough investigation” due to “serious doubts raised by the elements collected” regarding the concentration operation in question.
Portal47, a British company, owns the Kyero portal, an online platform for classified real estate advertisements.
This platform caters to individuals residing in Germany, the United Kingdom, and Northern Europe, seeking to purchase or rent property in France, Italy, Portugal, and Spain.
