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Thales and Safran in asset swap talks - newspaper

Fri Nov 21, 2008 2:03am EST

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PARIS, Nov 21 (Reuters) - French defence groups Thales (TCFP.PA) and Safran (SAF.PA) are in talks to swap some duplicated assest, such as optronics or inertial navigation systems, the les Echos paper said on Friday.

Citing a source close to the discussions, the newspaper said that the talks had the blessing of Dassault Aviation (AVMD.PA), the maker of fighter and business jets.

Dassault is in exclusive talks with Alcatel-Lucent (ALUA.PA) to acquire the latter's 20.8 percent stake in Thales. Safran is 30.4 percent owned by the French state which also has a 26.5 percent stake in Thales.

Thales nor Safran had any immediate comment. (Reporting by Marcel Michelson and Julien Ponthus; Editing by Mike Nesbit)



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