February 26, 2019 / 11:32 AM / 3 months ago

M&S and Ocado in talks over British retail joint venture

LONDON, Feb 26 (Reuters) - Retailer Marks & Spencer is in talks with online supermarket Ocado to form a British joint venture, it said on Tuesday, after the Evening Standard newspaper reported it was set to pay up to $1.2 billion for a 50 percent stake.

The deal would give M&S a food delivery service for the first time.

The Evening Standard said the two groups could announce a deal as soon as Wednesday. ($1 = 0.7582 pounds) (Reporting by Kate Holton, editing by Louise Heavens)

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