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Shares rise as Ocado continues Morrisons tie-up talks

by on May 11, 2013 in Ecommerce, Lead story, Mobile/Tablet, Online Advertising, Retail, Retail News

  • Ocado reassured investors over the progress of discussions with Morrisons after the pair announced last month they were considering a deal to use its expertise to help the Bradford-headquartered supermarket set up an online business in the UK.
  • Ocado currently delivers only products from Waitrose, its own lines and branded ranges and said this arrangement would not be affected by any agreement with Morrisons.
  • It said discussions did not involve Morrisons buying all or part of the company.
  • Rumours suggest Morrisons is eyeing £1bn Ocado deal. Ocado said talks are continuing with supermarket Morrisons about a possible tie-in as it announced a strong start to the year.

The business yesterday reassured investors over the progress of discussions with Morrisons after the pair announced last month they were considering a deal to use its expertise to help the Bradford-headquartered supermarket set up an online business in the UK.

Ocado currently delivers only products from Waitrose, its own lines and branded ranges and said this arrangement would not be affected by any agreement with Morrisons. It said discussions did not involve Morrisons buying all or part of the company. In a statement to shareholders at the firm’s annual general meeting, Ocado said: “Discussions are ongoing, and there can be no certainty that an agreement will be reached.”

Morrisons reported another fall in quarterly underlying sales this week, but the figures were better than expected and an improvement on the previous quarter. The chain said like-for-like sales fell 1.8 per cent in the 13 weeks to May 5.

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