There’s a lot of news out there about the financial troubles that LeEco has been facing over the past few months and it doesn’t appear to be getting any better for the company. According to a new report out of China, LeEco’s proposed $2 billion acquisition of the TV maker Vizio has been stalled. One of the reasons cited for this in the report is China’s restrictions on “movement of capital.”

LeEco had apparently been negotiating with Vizio for two years before it finally reached an agreement. It was announced in the summer last year that LeEco was going to acquire Vizio for $2 billion.

It was then reported in November last year that due to the ongoing financial problems at the company the deal might face some problems. The following month, progress on the deal was halted as the Chinese government had apparently not signed off on the deal.

There are now multiple reports that suggest that this deal is not going anywhere and that eventually, it’s going to be either abandoned or cancelled.

LeEco isn’t saying that, though. In a statement provided to TechCrunch, the Chinese company has said that the Vizio deal is “still pending regulatory approval.” Whether or not it goes through in the end remains to be seen.

Filed in General. Read more about and .

Discover more from Ubergizmo

Subscribe now to keep reading and get access to the full archive.

Continue reading