An industry insider says, "The makers want a new face for the Don franchise and are in talks with Katrina. They feel she is one of the few actresses who can comfortably do high-octane action scenes."

Shah Rukh Khan and Priyanka Chopra in 'Don' (2006)

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Both Katrina and Ritesh Sidhwani, producer of the 'Don' franchise, did not respond to our text messages. On Tuesday evening, the latter had tweeted: "Much speculation on #Don3 & it's Casting.No thoughts of changing it's casting..Working towards developing the script.Will keep u posted. Luv (sic)."

A source close to the production team, nevertheless, confirms the development, saying, "Yes, talks are on with Katrina for 'Don 3', but the makers want to keep it under wraps. Priyanka has her hands full at the moment and is unable to commit herself to the project. It has been four years since the release of 'Don 2' and things for the third part have to be finalised sooner rather than later. The script will be developed to introduce the new (Katrina's) character."