RICHEMONT AND SIGNET IN TALKS TO JOIN DE BEERS BID GROUP

Richemont, owner of Cartier, and US jeweller Signet Jewelers are in talks to join a consortium bidding to buy diamond miner De Beers, according to reports citing people familiar with the matter. The consortium is described as in a strong position to acquire the company. De Beers built the world's dominant diamond cartel and created the "A Diamond is Forever" advertising slogan in 1947. Demand for its diamonds has fallen in recent years.