M&S hopes to spark shareholder imagination with Ocado deal
Marks & Spencer will turn to its shareholders to fund a £750m joint venture with Ocado Group in a move that would see the company metamorphose into a leading online food retailer.
A £600m rights issue, solely underwritten by on a standby basis by Morgan Stanley, is primarily funding the £750m venture.
Under the joint venture, M&S will acquire 50% of Ocado’s UK retail business, which will continue to trade as Ocado.com.The JV will have access to M&S brand ...
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