Startup Alibabacoin Foundation (ABBC Foundation) suggested that the Chinese Corporation Alibaba Group acquisitions. Thus ABBC hopes to resolve the dispute between the companies because of the names. This is with reference to the CEO Alibabacoin Foundation Jason Phillip (Jason Daniel Paul Phillip) according to AMB Crypto.
Phillip said that a month ago, ABBC Foundation contacted representatives of Alibaba Group and has submitted its proposal for the settlement of disputes. In response, the Chinese company said it “is pleased to acquire Dubai-based start-up”.
The trial involving the two companies is still ongoing; currently we are waiting for another hearing in the district court of Manhattan, new York (USA). Previous petitions Alibaba Group warning an order of protection — meeting of 30 April 2018 5 October 2018, was rejected.
According to forecasts AMB Crypto, the deal is likely to take place, given the series of failed lawsuits and the impending change of leadership and finding new ways to market cryptocurrencies: in September, Alibaba founder Jack MA (Jack Ma) announced that he will retire from the post of Chairman of Alibaba Group in the next year.
Growing capitalization, plans and potential ABBC Foundation are additional factors of possible absorption of a startup. It is unclear in what direction will develop Alibabacoin in the case of a consent to acquisition by Alibaba Group. It is known that Jack MA especially appreciates the blockchain projects engaged in the optimization industry.