GE CEO Jeffrey Immelt is in Paris working to accelerate NBC talks with Vivendi.
"Headlines indicate an agreement on Vivendi's put option with respect to its stake in NBC Universal is possible in the coming days," according to market researcher StreetAccount. "The price gap between the two sides is narrower than $500M, according to sources."
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General Electric is attempting to sell 51% of NBC Universal to Comcast (CMCSA), but the deal hinges on Vivendi's agreement to sell its 20% stake in NBC Universal to GE. GE own 80% of NBC Universal and plans to keep 49% of it after the sale.The two have been at loggerheads over the value of Vivendi's stake. The difference between the prices that the French media conglomerate and GE put on the stake had been $1 billion. GE shares have risen 0.3% to $16.17 on Wednesday afternoon. Comcast shares have slid 0.3% to $15.07. Media shares are generally up with Walt Disney (DIS) 1.6% higher at $30.70, Washington Post (WPO) shares up 2.3% at $419.50, and News Corp. (NWSA) shares rising 1.1% to $12.05. -- Reported by Andrea Tse in New York Follow TheStreet.com on Twitter and become a fan on Facebook.
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