Members of the Sainsbury family have further reduced their holding in the eponymous grocer.

Trustee Judith Portrait sold a tranche of the retailer’s stock yesterday, reducing the family trust’s holding to just over 4 per cent. Family members now control a stake of approximately 15 per cent.

There was speculation that the disposal might spark renewed bid interest in Sainsbury’s, which was targeted twice last year by would-be buyers. The most recent suitor, Qatari investor Delta Two, still controls 25 per cent of Sainsbury’s shares.

It is understood that the sale by Portrait was sold in settlement of the estate of Simon Sainsbury, who died in October 2006.

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