Falcon bike identification

That's a Shimano 'Selecta' crankset where the spider is separate to the cranks, think it used an early Octalink-type BB. Except for the pedal threading and very small 'L' and 'R' cast into them cranks were identical so when they first started using them there was an issue with some of the kids on the assembly line fitting the incorrect cranks, I had to go through an entires week's production ensuring that each bike had a pair of cranks (left and right) and that they were fitted on the correct sides of the bottom bracket. The cranks were the first to use self-extracting BB bolts outside of high range models. Chainrings were held to the spider with a sort of bayonette type slot and secured with small grub screws.
 
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Hi all. Reading the various threads it appears to be a bit of a lottery to identify older Falcon bikes. Looking at all the old brochures I’m not clear what this one is. Just been given it by my father in law and I’m looking to renovate it (just for fun). So been in the family since the early eighties and no reason to think it’s been modified in that time.

Originally thought it was an Olympic but it has 12 speed, Shimano RS gears, and shimano brakes and brake levers. Sadly no evidence of any decals on the top tube. Front badge has the Olympic rings and designer signature. Is it perhaps a champion du monde in blue?

Any pointers gratefully received.
It does indeed appear to be a Champion du Monde in Pearl Blue! Not sure about the whacky handlebars in the finished version though.
 
There was a strange crankset that Falcon used that “freewheeled” between the crank and chainrings, meant you could change gear at any time. Didn’t last long lol.
 

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