The same story says that Shaqiri will be available for a transfer fee of around £13.5m following Stoke City's relegation from the Premier League last season.
Ojo spent last season on loan at Fulham, helping them achieve promotion back to the Premier League, although his playing time was limited to a part-time role.
Liverpool boss Jurgen Klopp has identified the Switzerland winger as one who can inject pinch of quality and bolster his attacking options, while the presence of a release clause in Shaqiri's contract makes a deal a financially attractive one.More news: Republicans mull holding former Federal Bureau of Investigation lawyer Lisa Page in contempt
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Jose Mourinho has made three signings so far this summer but he's expected to further strengthen his squad before the start of the new season and Shaqiri may have been lined-up as a potential replacement for Anthony Martial amid speculation surrounding his future at Old Trafford.
Shaqiri is due to undergo a medical on Friday and will provide competition for Sadio Mane and Mohamed Salah while Alex Oxlade Chamberlain continues his recovery from ligament damage.
Shaqiri helped Switzerland reach the round-of-16 of the World Cup, with Stoke hoping those performances in Russian Federation would spark an auction for the forward.