Saturday 26 March 2011

Thales raps cable leak and dampens UAE row | Reuters

France's Thales (TCFP.PA) said on Friday it was close to an agreement with the United Arab Emirates over rules for future arms contracts and hit out at an embarrassing Wikileaks-style leak to a French newspaper.

The company effectively confirmed a report in La Tribune, based on a leaked diplomatic cable, which disclosed recent disagreement over the terms for any future sale of Rafale jets.

But Thales said the dispute over offsets, or counter-trade clauses built into arms deals, was close to being resolved.

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