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.
Risk Our Money Not Yours | Get 50% Off Any Account
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply