The future of one of Europe’s largest defence electronics groups looks set to be resolved after Dassault Aviation on Tuesday revealed it was in exclusive talks to acquire a 20.8 per cent stake in Thales for €1.6bn.

The maker of the Falcon business jet and Rafale combat aircraft will have until December 15 to finalise discussions with Alcatel-Lucent, the telecoms equipment supplier that is selling the stake to focus on its own strategic problems.