(OBER) in advanced negotiations to buy his rival in the Middle East, Karim, to pay in cash and in shares

Ober Technologies is in negotiations to buy its rival in the Middle East, Karim Networks, based in Dubai.
Bloomberg said yesterday that the two companies could announce in the coming weeks the transaction, with part of the price being paid in cash and the other in the form of shares in Ober, giving Karim a value of 39, about $ 3 billion.
Ober and Karim have not yet responded to Reuters' request for comment.
According to the report, negotiations are ongoing and no final decision has been taken.
Ober, which becomes a public company this year, is looking for new ways to grow, while facing fierce competition from its core passenger services business. Sources told Reuters that Ober had received estimates from bankers managing the company's initial public offering, worth $ 120 billion. It is known that Ober and Karim conducted preliminary negotiations in July to merge their activities in the Middle East in order to put an end to the grueling competition between them.