LeEco calls off Vizio sale
 

China’s conglomerate LeEco has abandoned its plans to buy US telly maker Vizio for $2 billion.

The move was announced last year and would have given LeEco a foothold in the Land of the Fee. The company wants to expand its business beyond Chinese market.

Now it seems that the deal has folded due to “regulatory headwinds.”
In a statement, the companies said:”We continue to believe that there is great synergy between the two companies, and are pleased to announce that LeEco and Vizio have reached an agreement that is a win for both companies … LeEco and Vizio will continue to explore opportunities to incorporate the Le app and content within the Vizio connected CE platform, and engage in a collaborative partnership to leverage LeEco’s ecosystem user interface platform, along with the brand’s exclusive content and distribution channels, to bring Vizio products to the China market.”
http://www.techeye.net/business/leec...off-vizio-sale