PRESS DIGEST - British business - Nov 16

The Times

KING IS FACING BATTLE ON TWO FRONTS AS RIVALS LURE SHOPPERS FROM SAINSBURY'S

J Sainsbury(SBRY.L) has seen over 11 million pounds of spending move to competitors in the 12 weeks to November according to confidential industry "switching" data. Four million pounds switched to Waitrose, with 2.5 million pounds going to Aldi and two million pounds to Tesco(TSCO.L). The figures mean that chief executive Justin King is losing money both to upmarket competitors and more value-focused rivals. A spokesman for Sainsbury's said the supermarket continued to grow its market share.

BAKER AIMS AT MATALAN

Former Boots chief executive Richard Baker looks set to lead a 1.5 billion pound private equity bid for Matalan [MTLAN.UL] by Poundland owner Advent International. John Hargreaves, Matalan's owner, put the retailer on the market last month. Private equity funds including TPG and CVC are said to be interested.

VIRGIN MEDIA HITS THE PAUSE BUTTON ON SALE OF CHANNELS