Vivendi Sells NBC Universal Stake to GE for $2 Billion

French Media Group Vivendi SA (VIVDY.PK) announced on Monday that it had sold off a 7.7% stake to joint-venture partner General Electric Co. (GE) for $2 billion. The European entertainment conglomerate’s stake of NBC Universal now stands at 12.3%, or $3.8 billion, which will be sold after the completion of a GE transaction with new NBC owner Comcast (CCW).

Comcast Corp. agreed last year to buy a controlling stake in NBC Universal from GE for $13.75 billion in cash and assets.

VIVDY shares gained 13 cents, or 0.49%, to $26.93 at 3:20 pm ET.

Be the first to comment

Leave a Reply

Your email address will not be published.


*