Does Google recognise separate geographical domain names for different languages?

Hi,

I have a .me.uk domain name for UK market.
I have the.fr domain name for the France Market.

I want to make the primary language of BOTH website Englishs (for regulatory reasons of the industry the websites are in) but the French site will have a French Language option too.

Will Google penalise me for having the same content on both domain names. Or will they recognise the different domain name country being targeted?

Where do I stand?

Thanks,

Matt.

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