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The Commonwealth Bank has purchased a six per cent stake in valuations provider RP Data.
In a statement released to the ASX yesterday, CBA confirmed it had purchased 8,658,000 shares in the group, resulting in a 6.06 per cent voting power.
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RP Data was established in 1991 and provides commercial and residential property information services to both Australia and New Zealand. It claims to be the largest provider of electronic valuations and consumer reports in the country.
