February 26, 2019
LONDON (Reuters) – Retailer Marks & Spencer is in talks with online supermarket Ocado to form a British joint venture, it said on Tuesday, after the Evening Standard newspaper reported it was set to pay up to $1.2 billion for a 50 percent stake.
The deal would give M&S a food delivery service for the first time.
The Evening Standard said the two groups could announce a deal as soon as Wednesday.
(Reporting by Kate Holton, editing by Louise Heavens)