US logistics giant FedEx Corp is to take a stake in European parcel delivery company Hermes according to German media reports.

Earlier this week Petra Scharner-Wolff, CFO of Hermes said that its owners Otto Group have been looking for a strategic partner for Hermes and that this is gaining broad interest.

The Handelsblatt newspaper also cites unnamed sources that financial investor Advent is in talks to buy a stake in the Hermes UK business.

It isn’t known what size stake is on offer and whether this could lead to FedEx taking over the business as a whole, which would garner interest from competition authorities in the EU and member states.

Both FedEx and Otto Group have been contacted for comment on the matter but both have declined.