Shares sale adds to Sainsbury's uncertainty

One of Sainsbury’s top 10 shareholders has sold off a significant chunk of its holding for far less than the 600p-a-share price proposed by the Qatari investment fund stalking the chain, it emerged today.

Hedge fund Lansdowne Partners is understood to have cut its 2.1% stake in the group by a third yesterday, selling around 12 million shares for some £65 million.