LeEco 'to snap up prime real estate from Yahoo'

Deal points to expansion plan for Chinese firm involved in phones, TVs and mountain bikes

Tech giant Yahoo Inc has reached a deal to sell a 20-hectare undeveloped site in Santa Clara, California, near the heart of Silicon Valley and 6 kilometers from the company's Sunnyvale headquarters, to Chinese internet company LeEco Holdings Ltd, according to the Silicon Valley Business Journal.

Yahoo has revealed that it might sell real estate as part of its restructuring plan, and media reports said in December that Yahoo was preparing to sell the site.