Daimler is eyeing a large stake in Kamaz, Russia’s biggest heavy truckmaker, in a move that could boost its sales in what has become Europe’s biggest market for commercial vehicles.

Daimler said on Friday it had entered exclusive talks with the Russian investment bank Troika Dialog to buy a 42 per cent stake in listed truck company Kamaz, in a deal that analysts estimated could be worth about €1.3bn ($2bn).