Madonna's gold Versace handbag could be waiting under the tree for retail billionaire Philip Green's wife, Tina Green, this Christmas. Mr Green is very interested in the handbag signed by the Material Girl which failed to fetch its £5,500 reserve at a charity auction on Monday.

PR agency Identity One, which staged the Halloween bash at Tiger Tiger for the Sir Alan Sugar challenge to raise funds for the Hackney Empire, is now going to auction the bag pr ivately.