Jeweller Theo Fennell has confirmed  it is in talks over a possible sale of the company.

The company, which counts Victoria Beckham and Elton John as customers, said it is in “very preliminary talks” with private equity firm EME Capital.

Theo Fennell’s statement follows rumours of a takeover last week, which caused the jeweller’s share price to surge by almost a quarter.

Theo Fennel was one of the contenders to be the Queen’s jeweller after the post became empty in July.