La Française des Jeux is in talks to acquire Kindred Group for around $2.5 billion, according to people familiar with the matter, in a deal that would create one of Europe’s biggest online gambling companies.

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A deal could be announced as soon as Monday, assuming talks don’t break down, the people said. It would follow calls for the possible sale of the Stockholm-listed company by Corvex Management, a New York activist investor headed by Keith Meister.

Based in France, La Française des Jeux, or FDJ, is known as the country’s exclusive lottery and offline sports-betting operator. It also offers online sports betting and online gambling activity.