Ocado threatens M&S with legal action over joint venture payment [FT.com - Mergermarket]
MARKS & SPENCER GRP S/ADR (MAKSY)
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Source: FT.com - Mergermarket
Laura OnitaJump to comments sectionUnlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Ocado has threatened legal action against Marks and Spencer as the two retailers clash over a final payment tied to their online joint venture.M&SWhile the venture failed to meet the targets last year,Ocado raised the prospect of taking legal action for the first time on Thursday, as the group reported an annual pre-tax loss of £394mn. Alongside its online grocery business, Ocado sells robotic technology used in warehouses to other retailers., Ocado’s chief executive and co-founder, on Thursday insisted the relationship with M&S was strong but added: “We believe that we have a very solid case to get full payment, we know that M&S may not entirely share that view?.?.?.?We would much rather solve this in a nice and constructive way, which is what we’re working towards doing.“We are very confident that we are owed a substantial sum
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