IT Holding in talks to postpone debt payment

MILAN, Dec 22 (Reuters) - IT Holding (ITH.MI), owner of Italian fashion house Gianfranco Ferre, is in talks with its creditors to postpone paying an instalment on its debt.

"IT Holding's management has met the representatives of the Group's major banks to discuss possible short-term actions aimed at giving financial support to the Group," it said in a statement on Monday.

"Such actions include the postponement of the instalment due today until April 18, 2009," it said.

IT's share price was off 0.88 percent at 0.226 euros in Milan. (Reporting by Gilles Castonguay; Editing by Greg Mahlich)