Takeover spotlight back on Sainsbury's

The future of Sainsbury’s was back in the spotlight today after it emerged that a Qatari-backed investment group had built a 25% stake in the supermarket chain.

Delta Two said it paid £732m (€1.08m) for another 7% of the blue-chip company, adding to the 18% already in its ownership.

The move by Delta Two will increase pressure on Sainsbury’s as another of its major shareholders, Robert Tchenguiz, has been calling for the chain to unlock the value of its property assets.

The latest acquisition of shares gives Delta a bigger holding than the 18% owned by the Sainsbury family.

Delta paid 595p a share for its latest stake, well above the Sainsbury’s closing price of 565p last night. The stock opened 5% higher at 595p amid speculation that the supermarket could be back in the takeover frame.