Zoolander 2 close to being greenlit?

Talking to The Hollywood Reporter at the Deauville Film Festival in France, Will Ferrell, who played zany fashion mogul Jacobim Mugatu in the original Zoolander movie, said, “We are actually supposed to do a read-through of a sequel script soon, and Mugatu is a part of it.” So it looks like the sequel might be on its way to getting greenlit.