19th Jan 2016 08:32
LONDON (Alliance News) - Ocado Group PLC shares surged on Tuesday morning following a report in the Daily Mail newspaper which suggested US online retail giant Amazon.com Inc was running the rule over a possible bid for the FTSE 250 online grocery delivery service.
The Mail said market speculation has suggested Amazon is considering buying Ocado as part of its push to launch a fully-fledged grocery delivery service in the UK.
Amazon's plans to expand its existing Pantry packaged food delivery service in the UK has hit shares in Ocado in recent weeks, amid fears an entry by Amazon into the UK fresh food market would pose a significant challenge to existing players.
Ocado shares were up 9.8% early Tuesday to 266.35 pence, the best performer in the FTSE 250.
http://www.thisismoney.co.uk/money/markets/article-3405510/MARKET-REPORT-Amazon-set-swoop-Ocado-prepares-launch-fully-fledged-grocery-delivery-service-UK.html
By Sam Unsted; [email protected]; @SamUAtAlliance
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