Chinese internet conglomerate LeEco has purchased 11 per cent more shares of telecommunications equipment company Coolpad, becoming its largest shareholder.
LeEco bought the shares from Data Dreamland, the former largest shareholder of Coolpad, for $135 million. After the transaction, LeEco holds a total 28.9 per cent of Coolpad's shares and becomes the largest shareholder of China's top four domestic mobile brand.
