The company plans to sell either all or a majority of its Shimao Gongsan retail property in a popular area on the east side of Beijing by divesting from two firms it owns. LeEco has been in talks with potential investors for some months now, the first person said. The firm is now reining in its spending, looking to sell property in the United States and scrapping this month a $2 billion deal to acquire US TV maker Vizio. The second person said the plans to sell the Beijing property were “part of rationalizing the core businesses”. LeEco has investments from sports rights to taxi hailing platform Yidao Yongche as well as business units focused on smartphones, online entertainment to household appliances.

Source: Indian Express April 21, 2017 12:45 UTC