Internet and CE company LeEco announces its acquisition of TV maker Vizio is no more due to "regulatory headwinds," with rumours suggesting issues with Chinese regulatory authorities.
However, the two companies say they have achieved a new agreement-- one described by LeEco as a "win for both companies," since it involves LeEco bringing Vizio products to China via its content and distribution channels, while Vizio connected appliances get the Le app.
Announced back in August 2016, the $2 billion acquisition of Vizio would have created a combined entity worth $4 billion. Such ambitions were not to be though, since 2016 saw LeEco facing a series of financial woes. Recent examples include failure to pay US employees and lawsuits from multiple vendors accusing the Chinese company of not paying for goods and/or services. This despite an investment worth $2.2 billion from multiple Chinese backers.