(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