Morrisons 'didn't overpay Ocado'

The Today programme's Friday boss is Morrisons chief executive Dalton Philips.

Speaking to Today business presenter Simon Jack, Mr Philips defended the deal that the UK's fourth-largest supermarket chain had done with Ocado, saying that it was good value for money.

"Why would we try and build technology when it exists out there?" Mr Dalton asked.

First broadcast on BBC Radio 4's Today programme on Friday 12 July 2013.