Ratner still in the frame
Apax Partners and Kohlberg Kravis Roberts have revealed that they have abandoned plans to bid for Signet.
According to reports, the withdrawal of interest comes after opposition from investors, who feared an attempt to buy the world's largest jewellery retailer on the cheap.
Jewellery stalwart Gerald Ratner is understood to be preparing an approach for the UK business. Baugur is also being touted as a possible candidate.
Signet is preparing to unveil interim results tomorrow.
Numis analyst Steve Davis said: 'There will not be too much news tomorrow at the interims, given that we have already had the Q2 sales data. Going forward, concerns will focus on how the US consumer holds up in face of the ever-weakening US housing market.
'Consensus forecast for H1 profit before tax is around£59 million. To us, the risk is all on the downside.'
No comments yet