Meryl Streep is reportedly in talks to portray former British Prime Minister Baroness Margaret Thatcher in a new film.

The star is apparently in the running to play the Conservative politician in a movie directed by Phyllida Lloyd, who teamed up with Meryl on 2008`s Mamma Mia! The biopic is titled Thatcher, and is being developed by Pathe and BBC Films. Jim Broadbent is set to play Margaret`s husband Denis Thatcher, according to the Hollywood Reporter.

The movie is set in 1982, and follows the prime minster in the run up to the Falklands War, which lasted two-and-a-half months. The period was one of the most important in her career. After the conflict was over the politician`s popularity soared, and is widely regarded as the reason she went on to win a second term in office.

Damien Jones will act as producer, and conceived the story with Brian Fillis who penned the script.

Margaret, now 84, was prime minister from 1979 to 1990. She is best known for introducing the community charge, commonly known as poll tax, and for privatising many formerly nationally owned enterprises. She was honoured with a life peerage in 1992, and has since been known as Baroness Thatcher.

Meryl has previously been lauded for her portrayal of real life characters, and has been nominated for Oscars for her roles as chef Julia Child in Julie & Julia and whistleblower Karen Silkwood in Silkwood.
sections: Celebrities