France's Thales (TCFP.PA) said on Friday it was close to agreement with the United Arab Emirates on the offset rules in possible arms contracts after a diplomatic row was disclosed by a French newspaper.
La Tribune daily reported that French diplomats had warned Thales that French interests were at risk over the company's stand on offsets, or counter-trade, as France campaigns to sell Rafale warplanes to the Emirates. [ID:nLDE72N2B0]
"This negotiation has been going on for several months and like all negotiations has experienced some highs and lows. We are currently in a state of convergence," a Thales spokesman said, adding the company was surprised about the leak.
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