Ocado jumps 16% on Amazon tie-up report
Ocado shares have jumped by 16 per cent this morning after the Daily Mail’s market report cited “rumours in the City yesterday” that “Amazon may be about to deliver a tie-up with Ocado.”
For some time, Ocado has been looking into striking a deal with another international grocer to allow it to expand abroad and escape its dependence on the UK middle classes. But yesterday, shares in fact fell by more than 4 per cent. There has been no statement by Ocado to the Takeover Panel, and none is thought to be imminent.
A spokesperson for the UK grocery company declined to comment.
The shares have dropped more than 56 per cent since they hit an all-time high in 2014.