Hollywood star Meryl Streep is in talks to portray former Prime Minister Margaret Thatcher in a biopic that could reunite the Oscar-winning actress and Mamma Mia! director Phyllida Lloyd.

In a joint statement, Backers Pathe and Film4 said, "We can confirm Meryl Streep has expressed interest in playing the role of Margaret Thatcher. Discussions are under way with her representatives.

"But no agreement is in place. The film is scheduled to shoot at the end of the year."

Ms Streep, 61, is interested to collaborate again with Mr. Lloyd after their successful team up in Mamma Mia! which grossed a worldwide total of $602,609,487 as of April 6, 2009.

According to an industry source, "It was such a massive success that it makes complete sense for Streep to renew that relationship. Not a lot of people can pull off the Thatcher role but Streep could be the one to do it."
Jim Broadbent is poised to play Margaret Thatcher's late husband Denis, reports said.

Centered on the 1982 Falklands conflict, the motion picture will be produced by Damian Jones who is also credited for the Ian Dury film Sex & Drugs & Rock & Roll and The History Boys. It will be based on a screenplay by Abi Morgan, whose works include Sex Traffic and Brick Lane.

Nominated 16 times, Ms. Streep has earned Oscars for Kramer vs Kramer and Sophie's Choice. She will be the latest in a series of actresses to have played Margaret Thatcher.