M&S and Ocado in £750m home delivery deal

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Marks & Spencer and Ocado have confirmed a deal which will give the High Street retailer a home delivery service for the first time.

M&S will buy a 50% share of Ocado’s retail business for £750m.

The joint venture will be called Ocado and will deliver M&S products from September 2020 at the latest, when Ocado’s deal with Waitrose expires.

M&S will fund the deal by selling £600m of shares and by cutting its dividend payout to shareholders by 40%.

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