Qatar suitor confirms ex-Asda man for Sainsbury

(Reuters) - LONDON, July 24 - Qatar's state investment fund confirmed a former Asda executive could become chairman of J Sainsbury if the fund's potential 10.4 billion pound bid for the supermarket chain succeeds.



Tony Campbell spent around 20 years at Asda -- Britain's second-biggest supermarket chain owned by world leader Wal-Mart -- most recently in the role of deputy chief executive until 2001. Qatar's Delta Two state investment fund, already the biggest shareholder with a 25 percent stake in Sainsbury, Britain's third-biggest supermarket chain, has proposed paying 600 pence per share for Sainsbury, excluding a 7.35p dividend.


Read more at Reuters.com Mergers News

FTSE down on US subprime woes; Sainsbury rises

(Reuters) - Britain's top share index fell 0.7 percent early on Wednesday on rising concerns over risky U.S. subprime mortgages, but Sainsbury rose after receiving a bid approach.

At 0735 GMT, the FTSE 100 was down 48.2 points, or 0.72 percent at 6,610.9, after slipping 0.6 percent in the previous session on concerns of higher UK interest rates. European shares also fell.


Read more at Reuters Africa

FTSE 100 Stocks Gain, Paced by Sainsbury; Morrison, Tesco Shares Advance

(Bloomberg) -- U.K. stocks rose for the third
day. J Sainsbury Plc led shares of retail companies higher
after a Qatar-backed fund increased its stake in the
supermarket chain.

The benchmark FTSE 100 Index added 39.5, or 0.6
percent, to 6689.4 in London at 12:09 p.m. The FTSE All-
Share Index gained 1.4 percent to 3435.94. Ireland's ISEQ
Index rose 1.1 percent to 9611.55.


Read more at Bloomberg Stocks News