Marks & Spencer Group (MKS)

Down
Share Price:
358.60p
Market Cap:
£7,461m
Change Today:
-6.40p
Sector:
Personal Goods

Ocado said to have abandoned pursuit of £190m payment from M&S

By Michele Maatouk

Date: Tuesday 28 Jul 2026

LONDON (ShareCast) - (Sharecast News) - Ocado has reportedly quietly abandoned its pursuit of a £190m payment from Marks & Spencer following a dispute related to their online grocery joint venture.
The Times cited sources as saying that no final payment will be made by M&S, which teamed up with Ocado in 2019 to create Ocado Retail.

At the time, M&S paid £562m upfront to buy a 50% stake in Ocado Retail. It was also due to pay a final instalment of £190.7m, contingent on the JV meeting an undisclosed performance target in the year to November 2023.

However, the partnership failed to meet the financial targets that would have triggered a final payout.

According to The Times, speculation had been growing over how much M&S would ultimately pay after Ocado reduced the fair value of the contingent payment in its accounts, while M&S valued the liability at zero.

Ocado chief executive Tim Steiner had threatened legal action if M&S refused to pay. But sources told The Times both sides had drawn a line under the dispute without any final payment changing hands.

"It's a dead duck," one person close to the situation told The Times.

An Ocado spokesperson told Sharecast: "Ocado Retail continues to be the UK's fastest-growing grocer, and we were pleased to announce in last week's half-year results that the business is now profitable across all key measures.

"We expect to build further on this momentum in the coming months by expanding order capacity for customers while maintaining strong growth. Together with our joint venture partners at M&S, we remain focused on realising the significant potential of the Ocado Retail business."

At 1353 BST, Ocado shares were up 2.6% at 189.34p, while M&S was 1.5% higher at 398p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

MKS Market Data

Currency UK Pounds
Price 358.60p
Change Today -6.40p
52 Week High 410.60p
52 Week Low 308.90p
Volume 3,471,000
Shares Issued 2,080.51m
Market Cap £7,461m

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What The Brokers Say

Strong Buy 7
Buy 5
Neutral 1
Sell 1
Strong Sell 0
Total 14
buy
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