Vic Darvey, CEO of Purplebricks, has insisted that the company is not for sale, despite ongoing rumours.
Darvey, who took over as chief executive in May, told The Telegraph the company is “absolutely not for sale” after a tumultuous year that has seen it abandoned a disastrous overseas expansion into the US and Australia.
Since 2017, the company’s share price has dropped by around 77%.
German media firm Axel Springer, doubled its stock holding in the company in June and now owns just over 26% of the firm.
Darvey told The Telegraph: “We believe the hybrid market place can get to 20-30pc [market share] in the next five years and they [Springer] believe in that.”