A leading retail analyst has rejected suggestions the Qatar Investment Authority could be plotting another bid for Sainsbury’s, as speculation over a new approach prompted shares in the supermarket giant to soar.

Nomura UK & European retail coverage chief Ed Matthews said a rumoured bid of 420p per share was unlikely, with Sainsbury's having already rebuffed an approach at 550p a share in 2007.

But speculation over a possible approach prompted shares in the retailer to rise by 10% in trading today, with the name of former Barclays banker Roger Jenkins linked with brokering a possible deal.

Sainsbury’s declined to comment on the latest round of speculation.

Qatari rumours prompt Sainsbury’s share slump (6/7/09)
Share purchase fuels Sainsbury's (26/6/08)
Sainsbury's talks terminated (5/11/07)

Is the time ripe for a new approach? Should Sainsbury's stay in British hands either way? Click 'Post a comment' to have your say.