Marks and Spencer confirms home delivery service
Marks & Spencer has agreed a joint venture with online supermarket pioneer Ocado that would give M&S a full online food delivery service for the first time.
,Under the deal M&S, Britain's best-known stores group, will buy a 50 percent share of Ocado’s UK retail business for up to 750 million pounds.
M&S said it will finance the deal from a rights issue of shares to raise up to 600 million pounds. It will also cut its dividend by 40 percent to "a sustainable level"Published: by Radio NewsHub