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Thursday, November 26, 2009
GE Working To Accelerate Vivendi Talks: WSJ
By Simon Kennedy
MarketWatch Pulse
LONDON -- General Electric co-CEO Jeffrey Immelt was in Paris Wednesday, working to accelerate negotiations to acquire Vivendi's minority stake in NBC Universal, The Wall Street Journal reported, citing people familiar with the situation. GE, which owns 80% of NBC Universal, is progressing in talks with the Paris-based media and telecommunications company, the report said, though it remains unclear whether Vivendi will sell its 20% stake. GE has ironed out a deal to give cable company Comcast Corp. control over NBC Universal, but the deal hinges on Vivendi selling its stake to GE. Recently GE and Vivendi have been at loggerheads over the valuation of the stake, the Journal reported. It added that the gap between their valuations is now narrower than $500 million.
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