Ocado - comment

With the M&S JV performing better, it is unsurprising that Ocado says it is in no hurry to sell. We still expect disposal to be the end destination. Ocado will feel more confident getting the earn-out payment (held on its balance sheet at £29m). M&S has the option to take more management control and fully consolidate the JV from the next financial year, and this would be a sign that a sale was coming.

https://www.ft.com/content/515bec43-b117-40d9-b802-57c5c1ecfb6c (subscription required)