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Tencent and lead $437m investment in LeEco unit

Founder Jia Yueting's EV start-up Faraday also receives $2bn injection

Jia Yueting poses in front of the LeEco logo.

BEIJING (Financial Times) -- Tencent and are part of a consortium of 10 private investors that have agreed to buy a $437m stake in a subsidiary of ailing tech conglomerate LeEco.

The ecommerce groups are joined by subsidiaries of property giant Evergrande, computer maker Lenovo as well as television manufacturer TCL in investing in LeEco's smart television unit, according to a stock filing from LeEco's Shenzhen-listed arm.

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