Czech billionaire takes major stake in Sainsbury’s

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Czech billionaire Daniel Kretinsky has launched a new attack on a household name in the UK by taking a major stake in Sainsbury’s.The serial investor, dubbed the ‘Czech Sphinx’, has revealed a 3% stake worth around £ 130million in the supermarket, making it the fourth largest shareholder.

The disclosure follows Mr Kretinsky’s stake in Royal Mail, which led him to become the largest investor in the Postal Monopoly.

Speculation has mounted this year that the Czech, best known for his investments in the energy sector, may seek to dismantle Royal Mail.

As its woes in the UK have been exacerbated by the Covid crisis, the overseas branch of FTSE 250 company, GLS, continues to grow stronger.

In a rare public statement, Mr Kretinsky said earlier this year: “In the case of Royal Mail, we particularly appreciate the tradition of the company, its history and the importance of the public service it provides.”

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