London, Nov. 11 - Property magnate Robert Tchenguiz, who has a 10% stake in U.K. supermarket giant J Sainsbury PLC, said Sunday he plans to approach the retailer's board to discuss ways of extracting value for shareholders.
A report in the Mail on Sunday said Tchenguiz wants the board of J Sainsbury to release value from its estimated GBP9 billion property portfolio. He declined to comment on plans for the property portfolio.
A GBP10.6 billion bid for the store by Qatar investment fund Delta Two was halted last week.
Sainsbury couldn't be reached immediately for comment.