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Wm. Morrison Supermarkets plc : Ocado Group PLC - Ocado confirms talks re technology agreement

03/16/2013 | 01:32am US/Eastern


Ocado Group PLC confirmation of talks  

14th March 2013

OcadoGroup PLC ("Ocado") confirms that it is in discussions with Wm. Morrison Supermarkets Plc ("Morrison") which may lead to an agreement to license certain of  Ocado's existing and future intellectual property ("IP") and operating knowledge for the purposes of Morrison commencing an online grocery business in the UK.

These negotiations do not involve any discussion of Morrison acquiring either the whole of, or an equity stake in,  Ocado

Any such agreement would be complementary to Ocado's existing partnership with Waitrose, which would be unaffected by any potential agreement with  Morrison.

Both parties are working towards an agreement and a further announcement will be made in due course. However, discussions are ongoing and there can be no certainty that an agreement will be reached.

This information is provided by RNS
The company news service from the London Stock Exchange

RNS news service provided by Hemscott Group Limited.

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