Bankers take soundings for Signet UK business sale

Bridal sales were strong at Ernest Jones in the first quarter, with Valentine's day and mother's day also boosting consumer spend.

Report hints H Samuel and Ernest Jones may be sold by parent company.

British jewellers H Samuel and Ernest Jones could be sold by parent company Signet Group, according to a report in The Sunday Telegraph.

The newspaper says Lazard, an advisory investment bank, has been sounding out a number of private equity buyers to gauge interest in a sale of the giant high street jewellery chains.

The UK business is valued in the range of £400m-£600m by The Sunday Telegraph, but it points out that exploration for a sale are at a very early stage and has not been officially confirmed.

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