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BUSINESS & TECH

Quick Take: LeEco TV Unit Tunes In Market for New Investors

The investors include LeEco’s two largest shareholders — LeShi, and an investment firm controlled by property giant Sunac China. Four months ago, Sunac vowed to turn LeEco around after investing 15 billion yuan in the debt-ridden company in January 2017. Photo: IC
The investors include LeEco’s two largest shareholders — LeShi, and an investment firm controlled by property giant Sunac China. Four months ago, Sunac vowed to turn LeEco around after investing 15 billion yuan in the debt-ridden company in January 2017. Photo: IC

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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