A Czech billionaire set the hares running in the grocery sector yesterday by declaring that he held a stake of more than 3 per cent stake in J Sainsbury.
Shares in the supermarket rose by 6p, or 3.3 per cent, to close at 191¼p as Daniel Kretinsky’s Vesa Equity Investment vehicle became the company’s fourth biggest shareholder, with a 3.05 per cent holding worth about £130 million.
Mr Kretinsky, who forged one of Europe’s largest energy groups in more than a decade of deals, has been diversifying, looking at the retail and media sectors for more investment opportunities.
In recent months, he has made waves by building the biggest shareholding in Royal Mail. In March he bought a stake of 3.1 per cent and by