Short-sellers lie in wait as ‘Czech sphinx’ makes his move | Business

Few shoppers in Sainsbury’s will have heard of Daniel Kretinsky. Yet the Prague-based billionaire, nicknamed the “Czech Sphinx” because of his enigmatic nature, has quickly made a name for himself in the City of London after increasing his stake in Britain’s second biggest supermarket this week to about £550 million.

The swoop has thrust the secretive tycoon firmly into the spotlight.

Not only did it spur speculation that Kretinsky could attempt a takeover of Sainsbury’s; it has also pitted him against a pack of short-selling hedge funds that have been betting on a fall in the chain’s share price.

Kretinsky is dating Anna Kellnerova, a 24-year-old showjumper and daughter of his business associate

SLAVEK RUTA/ZUMA/ALAMY

The last time Kretinsky took on the short-sellers — when he invested last year in Royal Mail — he came out on top. Calculations by The