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- Dassault Aviation (OTCPK:DUAVF) rises as much as 10% in Europe after France announced the sale of 80 of the company's Rafale fighter jets to the United Arab Emirates, the largest-ever international order for the warplanes.
- The UAE also agrees to buy 12 Airbus (OTCPK:EADSF, OTCPK:EADSY) Caracal military transport helicopters.
- The French government says the total deal, including the contracts for the jets and helicopters and associated elements, is worth more than €17B ($19.2B).
- Discussions over the fighter jets have dragged on for more than a decade but negotiations were given a boost by the UAE's doubts over buying more F-35 fighters from the U.S., Bloomberg reports, citing officials involved in the negotiation.
- UAE has frequently told the U.S. that it prefers to buy American planes, but it needs other suppliers because the U.S. government places so many restrictions on their use.