A deal would give M&S a food delivery service and allow Ocado to focus on its technology Suzanne Plunkett/ReutersA report that Marks & Spencer and Ocado are close to announcing a joint venture boosted shares in the companies but failed to lift Britain’s main share index this morning. Shares in Ocado jumped 89p, or 10 per cent, to 981p, while M&S added 10p, or 3.5 per cent, to 304p. The Evening Standard reported that M&S would pay Ocado about £900 million for a 50 per cent stake in a venture. The companies confirmed that they were in talks about a joint venture but said that there was no certainty of an agreement. A deal would give M&S a food delivery service and allow Ocado to focus on its technology.

Source: The Times February 26, 2019 12:00 UTC