LONDON, Dec 14 (Reuters) - Reports that British retailer
Marks & Spencer wants to increase its 50% stake in the
Ocado Retail online supermarket joint venture with Ocado Group
are "pure speculation", Ocado Group's finance chief
said on Tuesday.
"That newsflow is pure speculation," Stephen Daintith told
reporters after Ocado Retail updated on trading.
"The partnership is working well. I think all three parties
are working well with each other and we're delighted with the
progress that we've made and we're excited at the prospect of a
strong year of growth ahead of us," he said.
Daintith said the prospect of M&S raising its stake "will
always be a live potential transaction."
"But right now there are absolutely no plans in that respect
and everything is working well with the group and the joint
venture," he added.
(Reporting by James Davey
Editing by William Schomberg)