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Investing.com -- The United Kingdom (TADAWUL:4280) and Turkey signed a memorandum of understanding on Wednesday that will allow Turkey to purchase Eurofighter Typhoon fighter jets, setting the stage for a potential multibillion-dollar order of up to 40 aircraft.
Senior defense officials from both countries finalized the agreement during a signing ceremony in Istanbul, following earlier reports by Dow Jones Newswires on Monday that such a deal was imminent.
The Eurofighter Typhoon is manufactured by a consortium comprising three major European defense companies: BAE Systems (LON:BAES), Airbus and Leonardo.
Fighter jet sales represent one of the most competitive segments in the international defense market, due to both the substantial financial investments involved and the prestige associated with the ability to produce and export these advanced technological systems.
The financial details and delivery timeline for the potential 40-aircraft order were not disclosed in the announcement.
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