British high street chain Marks & Spencer (M&S) is in talks with Ocado to form a...
LONDON - British high street chain Marks & Spencer is in talks with Ocado to form a joint venture that would give M&S a full online food delivery service for the first time, sending shares in both companies surging on Tuesday.
“We believe the food of M&S is perfectly suited for this more upmarket convenience shopping,” said Bernstein analysts in a research note. “We would be wary of the ability for the M&S brand to support a basket size of the magnitude required to make the online economics work ,” Jefferies analysts said in a research note.For Ocado, however, analysts said news of the talks was a relief following a devastating fire this month at its flagship robotic distribution center that hit its shares.
While the focus on technology has boosted its share price, the deal as mooted with M&S would enable Ocado to keep a stake in its British retail business rather than selling it completely to focus on tech deals.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Ocado, the online grocer making waves on both sides of the Atlantic, is soaring after entering venture talks with an iconic UK retailerOcado's stock surged by more than 10% in the minutes after the talks were confirmed. The deal would value the companies' joint venture at $2.4 billion.
Lire la suite »
Ocado, the online grocer making waves on both sides of the Atlantic, is soaring after entering venture talks with an iconic UK retailerOcado's stock surged by more than 10% in the minutes after the talks were confirmed. The deal would value the companies' joint venture at $2.4 billion.
Lire la suite »
After legal blitz, Embraer says key vote on Boeing tie-up may proceedBrazilian planemaker Embraer said on Tuesday a key shareholder meeting to vote o...
Lire la suite »
Apple, Goldman Tie-Up Is Latest Way for Silicon Valley to Reshape Wall StreetApple wants a piece of banking. Goldman doesn’t want to give it away. But both companies need each other if they are going to burrow deeper into consumer banking.
Lire la suite »
Brazil judge suspends Embraer-Boeing tie-up negotiations: court documentA Brazilian judge on Friday suspended negotiations for the tie-up of Brazilian a...
Lire la suite »