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OBER is negotiating the purchase of Karim for $ 3 billion



Ober is in talks to buy his rival in Dubai, Karim, which expands the network of the Middle East exponentially.

Bloomberg quoted sources as saying that the two companies could announce the exchange of cash in stocks so that the market value of "Karim" will amount to $ 3 billion in the coming weeks.

Negotiations continue and no final agreement has been reached. No one representative of any company commented.

The San Francisco-based UPR invests in food, logistics, motorcycles and cars and is preparing to launch a public offer this year.

Ober and Karim held talks last July to merge their transport services to the Middle East in hopes of ending competition in the region, sources said.

The market value of Karim was estimated at $ 2016 billion, making it the most expensive development technology in the Middle East.

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