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M1 upping the stake in Sainsbury’s Investment fund M1 group, owned by Prime Minister Najib Mikati and his brother, Taha, raised its share to just over 3 percent in J Sainsbury, owner of the third-largest chain of British supermarkets, the level at which it needs to be declared to the stock market in the United Kingdom. At the current market capitalization of $8.9 billion (as of March 15), the Mikatis’ stake is worth $265 million. The interest in the British retailer is ostensibly due to its significant property portfolio valued at $17 billion at of the end of 2011, almost twice the size of its market capitalization. Sainsbury’s largest shareholder remains the Qatar Investment Authority sovereign wealth fund, with a 26 percent stake. Despite withdrawing a £10.3 billion bid ($20.6 billion at the time of the offer) to acquire the entire company in 2007 due to shaky credit markets, speculation