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LeEco, Vizio abandon $2 billion deal over regulatory concerns
April 10, 2017 / 11:46 PM / 5 months ago

LeEco, Vizio abandon $2 billion deal over regulatory concerns

LeEco's new Le Pro3 phone is on display during a press event in San Francisco, California, U.S. October 19, 2016. RETUERS/Beck Diefenbach

(Reuters) - China’s Le Holdings Co Ltd (300104.SZ), also known as LeEco, abandoned its proposed $2 billion acquisition of U.S. consumer electronics company Vizio Inc (VZIO.O) on Monday, citing “regulatory headwinds.”

LeEco and Vizio, however, have struck a new collaboration agreement that includes bringing Vizio products to the Chinese market, according to a brief emailed statement from the Chinese company.

The statement did not elaborate on the regulatory hurdles that prevented the deal from going ahead.

The deal to buy Irvine, California-based Vizio was announced in July.

Reporting by Ismail Shakil in Bengaluru and Cate Cadell; Editing by Sandra Maler

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