Meryl Streep: To play ex British PM Margaret Thatcher

Meryl Streep: To play ex British PM Margaret Thatcher

Multiple Oscar-winning star Meryl Streep is in talks to reteam with her "Mamma Mia!" director for "Thatcher," a biopic of the former British prime minister.

For this British production, Jim Broadbent would play Margaret Thatcher's husband, Denis.

To be directed by Phyllida Lloyd, the film is set in 1982 and tracks Thatcher as she tries to save her career in the 17 days preceding the 1982 Falklands War.

The 2 1/2-month war was a turning point for the prime minister, who, after the victory, saw her approval ratings double and went on to win a second term.

Producer Damien Jones ("Sex & Drugs & Rock & Roll") came up with the story with screenwriter Brian Fillis.

Once a deal is completed, the role of Thatcher would be the highest-profile character yet tackled by Streep, who has garnered Oscar nominations for playing real-life women such as whistleblower Karen Silkwood, author Susan Orlean and cooking guru Julia Child.

Phyllida Lloyd, a British theater director known for her work in the opera world, elicited energy and brought out youthfulness in Streep in her feature adaptation of "Mamma Mia!," which grossed more than $600 million worldwide in 2008.