Ocado set to become UK’s largest listed tech company

There has been speculation that Ocado could strike a deal with a US retail partner

Ocado will become the “Microsoft of retail” following a decision by the Competition and Markets Authority (CMA) to de-designate the grocers as a retailer.

Once the CMA’s decision, made in November, is finalised it will secure Ocado as the largest listed technology company by valuation in the UK.

Analysts said if Ocado Solutions business gains more market share it could place it as one of the biggest technology companies on the FTSE with the potential to generate £3.5bn per annum.

Peel Hunt analysts highlight the growth areas for Ocado. Its most recent tie-up with Aeon could see around 26% of the Japanese supermarket group’s revenue move online by 2035.

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