China's LeEco abandons $2 billion deal to buy U.S. TV maker Vizio
Tuesday, April 11, 2017, 4:48 PM
LeEco has scrapped a planned $2 billion acquisition of U.S. consumer electronics company Vizio (VZIO.O) due to regulatory issues, a fresh setback to the cash-strapped Chinese conglomerate's expansion drive. The deal was first announced in July, with LeEco agreeing to acquire the Irvine-based manufacturer of LCD/LED flat panel TVs. A LeEco representative cited a "Chinese policy factor" for abandoning the proposal.