City snapshot: Ocado and M&S agree £1.5bn joint venture

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Ocado and Marks & Spencer have agreed to create a 50/50 joint venture that will “transform online grocery shopping in the UK”.

Ocado and Marks & Spencer have agreed to create a 50/50 joint venture that will “transform online grocery shopping in the UK”.

The joint venture will absorb Ocado’s UK grocery retail business and source M&S’s product range, replacing Ocado’s existing supply partnership with Waitrose.

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