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The Alice In Wonderland actor is reportedly keen to team up with Tom Hanks for the drugs drama, which is set in the organised crime haven between Paraguay, Argentina and Brazil.
Actors such as Will Smith, Sean Penn, Javier Bardem, Christian Bale and Denzel Washington have all been rumoured for the Mark Boal-scripted project. The story includes five main characters, although Depp and Hanks's roles are said to be the largest.
Depp is currently filming the fourth Pirates Of The Caribbean movie and will reunite with Tim Burton next year for Dark Shadows.
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