Ratner is reported by the Mail on Sunday to be considering a 拢350m bid for Signet, owner of the Ernest Jones and H Samuel jewellery shops.
Signet was previously known as Ratners, but Ratner left the company in 1992, 18 months after the now infamous "total crap" joke -- words that have haunted him ever since and are now held up as an object lesson in how not to do PR.
Ratner bounced back in 2003 with online jewellery store , which he may merge with Signet should his takeover bid prove successful.
In an interview earlier this year, Ratner said that H Samuel could be a success again saying that it was a "marvellous brand" but that its merchandise needed refreshing.
According to sources, it is the H Samuel part of the business that most interests Ratner, and that he would consider selling Ernest Jones. Other companies that are interested in buying Signet include Baugur, the acquisitive Icelandic retail group. It already owns Goldsmiths and Mappin & Webb.
Signet has said that it is not up for sale. Ratner has previously expressed an interest in buying Signet but the 拢200m offer he had proposed was dismissed by the company.
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