Property tycoon Robert Tchenguiz has dismissed speculation that he could sell his 10 per cent stake in Sainsbury’s, despite suffering sizeable losses following the collapse of Delta Two’s bid for the grocer on Monday.

In a rare public statement, Tchenguiz explained his position on his Sainsbury’s stake and 19 per cent share holding in pub group Mitchells & Butlers. He said: “Both companies have significant value in excess of current valuations and both have a strong future.”

He insisted that he would continue his policy of “working constructively” with companies “to realise their potential for attractive shareholder returns”. Tchenguiz is chairman of his investment vehicle, R20.

Some stock market traders had feared that Tchenguiz would consider selling some of his shareholdings to meet a “margin call” after Sainsbury’s shares tumbled 21 per cent on Monday when takeover talks with the Qatari investment vehicle were terminated.

Sainsbury’s shares were trading at£4.42 this morning, a fall of more than£1 on its closing price of£5.55 last Friday. Delta Two’s proposed£10.6 billion offer, which was never formally tabled, valued Sainsbury’s at 600p a share.