Earlier on Tuesday, London’s Evening Standard reported M&S would pay Ocado between £800m and £900m for a 50 per cent stake in the joint venture, which could be announced as soon as tomorrow.
both company’s shares have risen on the back of the deal but it’s a bit of a strange one because
Ocado has recast itself has a provider of robotic warehouses to supermarkets as grocers have struggled to make home deliveries pay.
But apparently this makes sense for Ocado because
“It is too early to lose their retail business as it is an essential and unbeatable part of the sales pitch to global customers (i.e. they are not just selling you some hardware/software, they operate it very successfully in the most competitive grocery e-commerce market in the world).
& for M&S as
as the high street chain seeks to catch up with rivals in grocery deliveries