France and Egypt negotiating Rafale fighter jet deal

France is in advanced talks to sell Dassault Aviation-built Rafale fighter jets to Egypt for around 6 billion euros ($6.88 billion), Les Echos newspaper reported on Thursday.

Despite exclusive negotiations with India for the last three years, Dassault has still not found a foreign buyer for its multi-role jet, the Rafale, billed to be one of the most effective and sophisticated fighter jets in the world, but also one of the most expensive.

The business daily said the two countries were close to finalising a deal for 24 jets and a naval frigate worth 5 to 6 billion euros.

The deal could be financed by as much as 50 percent through a credit facility arranged by French credit insurer Coface .