Quick Take: LeEco TV Unit Tunes In Market for New Investors
Cash-strapped tech conglomerate LeEco is seeking investments for its television unit.
The target is to raise 3 billion yuan ($462 million) for the TV subsidiary. The subsidiary is valued at 12 billion yuan, according to a Tuesday statement from LeEco’s listed arm, Leshi Internet Information & Technology Corp. — the TV unit’s largest shareholder. The value is half of what it was a year ago.
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