Qatar Investment Authority supportive of Sainsbury’s-Asda merger talks-source

DUBAI, April 29 (Reuters) – Qatar Investment Authority (QIA), the biggest shareholder in J Sainsbury Plc, was aware of merger talks between the British supermarket chain and rival Walmart Inc’s Asda and is supportive of the discussions, a source familiar with the matter told Reuters.

Sainsbury’s statement regarding the discussions on Monday will reflect QIA’s position on the matter, the source said.

Sainsbury’s declined to comment on Sunday.

QIA, which ranks among the top 10 sovereign funds in the world, has a 22 percent stake in Sainsbury’s which said on Saturday it was in advanced discussions regarding a combination of the UK’s No. 2 and 3 grocers. (Reporting by Saeed Azhar and James Davey; Editing by Elaine Hardcastle)

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UPDATE 1-Abu Dhabi state fund Mubadala’s 2017 operating profit rises 11.5 pct

UPDATE 1-Top Sainsbury’s shareholder QIA backs Asda takeover talks -source