J Sainsbury cools talk of takeover bid

J Sainsbury, the £5bn (€7bn) UK retail chain, has cooled speculation about a takeover bid by refusing to issue a stock exchange statement despite a 6% share price rally since yesterday morning.

A spokeswoman for Sainsbury confirmed the company was not planning to issue a statement, even though UK company rules require it to do so if it is in sufficiently serious talks about a takeover.

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