FedEx eyes stake in Hermes

FedEx is close to taking a stake in German parcel delivery firm Hermes, according to Handelsblatt, a German business newspaper. The development follows a big demand surge in Germany for parcel delivery during the pandemic.

Petra Scharner-Wolff, the finance chief of Hermes, which is owned by e-commerce group Otto, as reported by Reuters, earlier on Wednesday said the firm’s effort to find a strategic partner for its European parcel service had garnered broad interest.

In an another event, Handelsblatt stated that financial investor Advent was still in the running for a stake in the Hermes in Britain.

“It makes a lot of sense, because they need it…the risk is they haven’t been very successful with the integration of TNT,” said Marek Ró?ycki, managing partner at Last Mile Experts, a European delivery consultancy to Reuters. Hermes has seen parcel volumes soar in Germany and Britain in April to levels usually seen in the pre-Christmas rush, Otto said on Wednesday.