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Morrisons Venture Approved By Ocado Shareholders

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Morrisons Venture Approved By Ocado Shareholders

Morrisons' deal with Ocado moved a step closer on Thursday, when Ocado shareholders voted almost unanimously to approve a tie-up between the two.

Under the £200 million deal, which was unveiled in May and is set to run for 25 years, Ocado will provide Morrisons with an online ordering and delivery service from January 2014.

Morrisons is the last of the major supermarkets to offer an internet shopping service.

The vote took place at a specially arranged extraordinary general meeting in London, with new Ocado chairman Sir Stuart Rose in charge of proceedings.

It was the first public meeting that Rose, formerly CEO at M&S, has presided over since he took over the position from Lord Michael Grade in January.

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Unlike Grade, Rose did not ban the press from the event. Earlier this year, Grade refused to allow journalists to attend Ocado's annual meeting in May, fearing that their presence would 'stifle debate'.

 

© 2013 - ESM: European Supermarket Magazine by Ellen Lunney

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