ScreenDaily reported that the British actresses will play women who become involved in a love triangle with a famous French recluse in British comedy The Time Of Their Lives.
Joan Collins, 80, will star as a former Hollywood siren who escapes her London retirement home with the help of a repressed housewife (Pauline Collins, 73) in a bad marriage.
The former Dynasty star, who recently appeared in TV series Benidorm, told ScreenDaily that the film was a "buddy movie along the lines of Thelma & Louise, with a hint of The Best Exotic Marigold Hotel".
She added: "There are very few roles today for women aged over 45, let alone over 65...People are sick to death of watching shoot 'em ups, blood and gore and explosions...It's time producers realised that people also want to see stories about mature adults."
Director Roger Goldby, whose credits include episodes of Call The Midwife, said that the 1991 movie Thelma & Louise, which featured Susan Sarandon, Geena Davis and Brad Pitt, had inspired the new film.
Italian actor Franco Nero is attached to play the French recluse with whom the two women become involved, while Sir Tim Rice will oversee the soundtrack.