April 10, 2017 / 11:45 PM / 8 months ago

LeEco, Vizio abandon $2 billion deal over regulatory concerns

(Reuters) - China’s Le Holdings Co Ltd 300104.SZ, also known as LeEco, abandoned its proposed $2 billion (1.61 billion pounds) acquisition of U.S. consumer electronics company Vizio Inc (VZIO.O) on Monday, citing “regulatory headwinds.”

A sign of Le Holdings Co Ltd is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song

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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