Tuesday, 28 November 2017

Shares in Ocado surge on Groupe Casino tie-up

Shares in Ocado jumped by more than 20% after the online grocer announced a long-awaited international partnership.

The company has signed a deal with Groupe Casino that will see the French supermarket giant use Ocado's e-commerce technology in its own online business.

Ocado will also build a warehouse to serve the Greater Paris area, and the Normandie and Hauts de France regions.

Ocado said it expected the deal "to be one of many" global collaborations.

Shares in Ocado - a member of the FTSE 250 share index - were up 22% in early morning trade at 313.2p.

BBC       News.