(Adds Springer comment)
July 9 (Reuters) - German publisher Axel Springer (Swiss: SPR.SW - news) has raised its holding in British online estate agent Purplebricks Group (Frankfurt: 5PB.F - news) to 12.5 percent and does not rule out a further increase.
"We still view this as an innovative business model that allows us to participate in new markets," a spokesman for Berlin-based Axel Springer said.
"It is possible that we increase the stake further but there are presently no concrete plans to that end."
Purplebricks, which has challenged traditional operators in Britain such as Countrywide (Frankfurt: A1H56R - news) and Foxtons, ventured into the United States last year - its third market after Britain and Australia.
It reported a quadrupling of full-year operating loss on Thursday.