Sainsbury's not fazed by industry takeover frenzy

CEO says his focus is on delivering results for the British retailer rather than the acquisitions fever that has gripped the sector

The boss of Sainsbury's has said his focus is on delivering the British supermarket group's strategy rather than the takeover frenzy that has gripped the sector.

Shares in Sainsbury's, Britain's second-largest grocer after market leader Tesco, are up 24% so far this year, buoyed by bid speculation.