Marks-Spencer set to pay USD 1.2 bn to Ocado for joint venture: Report

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 per cent 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.