Oscar nominees Ralph Fiennes , Colin Farrell and Wagner Moura are set to play three friends in upcoming comedy “Art,” based on French playwright Yasmina Reza’s Tony-winning pay satirising modern art, friendship and intellectual pretension. The film — launching in the Cannes market with Patrick Wachsberger’s Legendary-backed 193 — is being directed by Fernando Meirelles, the Oscar-nominated Brazilian director best known for “City of God,” “The Constant Gardener” and “The Two Popes,” from a script by two-time Oscar winner Christopher Hampton (“Dangerous Liasons,” “The Father”). CAA are repping U.S. rights. “Art” follows three friends, Marc, Serge and Yvan, and one ridiculously expensive, plain white painting. It’s procurement by one friend and differing opinions about what constitutes ‘art’ sparks a conflict among the group that uncovers long-held grievances and tension points in their relationships.…