Ocado share price jumps on Amazon tie-up rumours

Lynsey Barber
Follow Lynsey
Amazon Expands Grocery Delivery Service To Los Angeles Area
Fresh hope for Ocado? (Source: Getty)

Ocado shares jumped more than 18 per cent in early trading following reports of a tie-up with potential rival Amazon.

The online grocery delivery company faces new competition from Amazon, which is expected to soon launch its own fully-fledged delivery service for fresh food.

Amazon may now partner with the already well-established Ocado to fulfil those plans, according to the report.

19 January 2016 @ 8:30amOcado Group (OCDO)

The US retailer, which has already disrupted several industries, made its first foray into grocery delivery at the end of last year with Pantry in the UK. It's widely seen as a smaller scale version of Amazon Fresh, its already established US delivery service.

News of the expansion of Pantry in the UK, which can deliver to certain areas within just 60 minutes, sent Ocado shares tumbling at the end of 2015.

Related articles