I would pass.
It is a fake.
Look at the letter "A": this should be slightly taller than the other letters. Also the colour of the backing material is too "green".
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I fully agree, this is not a French SS sleeve shield.
It has been said that this particular sleeve shield could have been made for French volunteers in the Kriegsmarine, but there is no evidence of such a thing and I know no photo showing this sleeve shield in use, therefore I suspect this shield to be a postwar copy.