Vivendi to receive $5.8bn for NBCU stake
By Julian Clover
December 1, 2009 09.18 UK
Vivendi has agreed to place a value of $5.8bn (€3.53bn) on its holding in NBC Universal, according to sources widely quoted in the financial press, a move that gives the go-ahead for Comcast’s joint venture with General Electric.
Talks between the two parties have been in progress for several weeks, culminating in a meeting in Paris last week between GE Chief Executive Jeffrey Immelt and Vivendi CEO Jean-Bernard Levy.
Vivendi had previously valued its stake at £6.1 billion, the two sides coming together during the course of the negotiations.
In addition to the NBC Networks in the US, the sale also includes the Universal Networks portfolio that includes Universal Channel, 13th Street Universal, Syfy Universal (the former Sci Fi), Diva Universal and Studio Universal.
An official announcement is expected over the next few days.