Ocado will do better than M&S out of a tie-up, says aimeedonnellan:
British retailer Marks and Spencer said on Feb. 26 it was in talks with online grocer Ocado to secure a food delivery service for the first time.
The companies said in separate statements there was no guarantee a deal would emerge after London’s Evening Standard newspaper said M&S was set to pay up to 900 million pounds for a 50 percent stake in a joint venture with Ocado. The Evening Standard report suggested Ocado would use M&S as a supply partner for its British customers. Many of the products that Ocado currently sells are supplied by Waitrose, and it was not clear what the M&S talks would mean for that arrangement.
Shares in Ocado were up 11.7 percent at 990 pence by 1442 GMT on Feb 26. Shares in Marks & Spencer shares were up 2.66 percent at 301.5 pence.
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