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Monday, November 23, 2009
GE, Vivendi Differ on Value of NBC Universal
By Matt Egan
FOXBusiness
General Electric (GE) and Vivendi remain hundreds of millions of dollars apart as the companies attempt to value the French conglomerate’s minority stake in NBC Universal, The Wall Street Journal reported.
The talks are seen as one of the last remaining hurdles before GE can ink a deal that would give control of NBCU to cable giant Comcast (CMCSA).
While the haggling between GE and Vivendi has gone one longer than expected, a source told the Journal that GE is unlikely to let “a few hundred million” dollars stand in the way.
The GE-Comcast deal, which would put NBCU in a joint venture that is 51% owned by the cable giant, vales NBC at about $30 billion and implies Vivendi’s stake is worth somewhat less than $6 billion, the paper reported. GE and Vivendi are said to be about $500 million apart.
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