Morrisons, the supermarket chain has admitted that it would consider a joint takeover for Safeway.

Owner Sir Ken Morrison said: 'We are anxious to take any opportunities to discuss any options.' But he intends to wait for the results from the Competition Commission.

Morrison's revealed total sales in the first 14 weeks of the new financial year up 14.2 per cent. Like-for-like sales also increased 8.4 per cent or 6.9 per cent with fuel sales excluded.

The company announced its share of the total UK grocery market reached a record high of 6.2 per cent.

The group has also outlined plans to open 15 stores this year and next, which will secure another 4,000 jobs in the UK.

Meanwhile, Sainsbury's chief executive, Sir Peter Davis has also made it clear that he would consider a joint bid. He said: 'We would be very happy to talk to other parties when we know what might be possible.' However, a spokesman for Sainsbury's played down speculation that the company could work with Morrison. He said: 'I think you're putting two and two together and making eight.'