M&S acquires Marinopoulos stake

Athens: Marks & Spencer has acquired a 50% stake in franchise operation Marks & Spencer Marinopoulos, which operates 38 M&S stores in Greece, Romania and Bulgaria, for €50m (£38m). M&S Marinopoulos plans to open up to 50 new stores over the next few years. "We have an opportunity to open many more Marks & Spencer stores in Greece and the Balkans and our joint venture with Marinopoulos will mean we can put M&S on the map in this part of the world," said Carl Leaver, director of international business at M&S.