Update: Signet Confirms Talks with Zale

Following reports in the press about a possible merger with Zale Corporation, Signet Group plc have announced that talks have been held with the American group.  

"Further to press speculation, the Board of Signet Group plc confirms that it has held preliminary discussions with Zale Corporation regarding a possible merger. However, at this early stage, there is considerable uncertainty as to whether any transaction will be forthcoming," the company said in a release today.