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LeEco calls off $2 billion acquisition of US TV maker Vizio


04-11-2017 17:09 BJT

(Source: CGTN)

Chinese tech conglomerate LeEco said on Tuesday it dropped a two billion U.S. dollar buyout of U.S. consumer electronics company Vizio--the official statement pointed to "regulatory headwinds", implying China's tighter scrutiny of outbound investments. 

The deal was first announced in July when LeEco was making an ambitious push into the US market.  But since then, LeEco has faced capital shortage situations, as it may have expanded too much too fast.

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