OFweek smart home network news: As rumors said, LeTV did give up the acquisition of US smart TV maker Vizio, and rumors are different from the reasons for the acquisition of abortion.
According to American magazine Variety and other US media reports, on Monday, LeTV and Vizio officially announced the cancellation of the $2 billion acquisition of Vizio transactions announced by LeTV in July last year. The two companies will still cooperate in some aspects, such as planning to use LeTV's applications on some Vizio products and allowing Vizio's products to enter the Chinese market.
In the joint statement, LeTV and Vizio stated that they gave up trading because of “supervisory factorsâ€. At the end of last month, CBN learned from people close to the transaction that the transaction was likely to be aborted due to capital controls and the transaction was "not an ordinary problem."
According to Wall Street news articles, Vizio is the largest smart TV manufacturer in the United States. Apple, Google, and Ali all reported that they intend to acquire Vizio. In July last year LeEcoGlobal, a non-listed company announced the acquisition of Vizio, LeTV CEO Jia Yueting told the media that the transaction will be the world's largest ecosystem television company.
Also after announcing the acquisition of Vizio, Jia Yueting revealed to First Financial that the acquisition of Vizio funds mainly comes from two aspects. One is LeTV’s own cash flow. Second, LeTV also has some eco partners involved in the form of equity or debt. Come in.
The source told China Business News last month that Jia Yueting did not disclose it in July last year. In fact, at that time, the Bank of China was willing to provide US$1 billion in funds.
According to the plan, LeTV and Vizio's transaction will be completed in the fourth quarter of last year. However, since last year, LeTV has seen a series of negative news such as layoffs and financing difficulties. In 2017, although the LeTV Group received RMB 16.8 billion in funding from investors such as Sunac, Levision and Vizio have not announced the latest progress of the acquisition.
After officially announcing the cancellation of the transaction, a LeTV spokesperson told Variety that the cancellation of the acquisition would not have any effect on LeTV’s other US operations.
LeTV fell 3.64% this week. It has fallen more than 11% this year. The Shenzhen Component Index rose more than 4% over the same period.
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