China's LeEco steps back from $2 billion acquisition of VizioStaff Writer | April 11, 2017
LeEco has scrapped a planned $2 billion acquisition of U.S. consumer electronics company Vizio due to regulatory issues.
Acquisition Chinese policy factor
A LeEco representative cited a "Chinese policy factor" for abandoning the proposal, but declined to provide further details.
Reuters reported last month that LeEco is looking to sell a 49-acre U.S. Silicon Valley property for around $260 million less than a year after buying it from Yahoo to boost liquidity.
A new agreement between LeEco and Vizio will now replace the scrapped deal, by which the companies will incorporate LeEco's app and content within Vizio's platform, and bring Vizio products to the China market, LeEco said. ■