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Wednesday, November 25, 2009
Report: GE's Immelt in Paris to Speed up NBCU Talks
By Matt Egan
FOXBusiness
In the latest sign that a deal could be imminent, General Electric (GE) CEO Jeff Immelt is in Paris Wednesday to accelerate talks to buy out French conglomerate Vivendi's 20% stake in NBC Universal , The Wall Street Journal reported.
An agreement on Vivendi’s stake in NBCU, which includes NBC, the USA Network and CNBC, is possible in the next few days, the paper reported. The gap in the valuation of the media entity is narrower than $500 million.
The acquisition of Vivendi’s stake is seen as the last stumbling block before GE can hand control of NBCU to cable giant Comcast (CMCSA) in a joint venture that would be 49% owned by GE. That deal is reportedly near or at completion pending the Vivendi sale.
Shares of GE, which owns 80% of NBCU, were mostly unchanged on the news. GE’s stock was recently up 0.19% to $16.15.
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