Marks and Spencer confirms home delivery service

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
Start your relationship

If you are interested in receiving bulletins from Radio News Hub or would simply like to find out more please fill in the form below. We operate on annual contracts - spread the cost is available.

We aim to get back to you within 48 hours