GE and Vivendi stall on NBC stake valuation
Apparently General Electric and Vivendi are $1 billion apart in their valuation of the French groupís stake in NBC Universal, damping hopes of a quick resolution to the stand-off holding up Comcastís bid for a majority stake in the group.
GE and Comcast, the cable operator that wants to take a 51 per cent stake in NBC Universal, have been eager to unveil an agreement but GE and Vivendi remain $1bn-$2bn apart on the valuation of the French groupís 20 per cent stake in NBC Universal.
Comcastís offer values NBC Universal at about $30 billion, implying a $6 billion valuation for Vivendiís stake. Vivendi in June estimated the value of the stake at $6.3 billion, so would have to take a further writedown should it receive less.