By  on December 8, 2008

MILAN — IT Holding SpA may be one step closer to securing a white knight.

The Italian fashion group, which owns the Gianfranco Ferré, Malo and Exte brands and operates under license the Just Cavalli, Costume National C’N’C and Galliano labels, said Friday its board had given company chairman Tonino Perna “a wide mandate” to continue talks with Mensun Ltd., a company represented by Chinese businessman Billy Ngok. The discussions are on an exclusive basis until Dec. 31.

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