Skip to main content

Vivendi Sells NBC Universal Stake to GE

Vivendi said Monday it concluded the sale of a 7.66% stake in NBC Universal to General Electric for $2 billion.

PARIS (

TheStreet

) --

Vivendi

said Monday it concluded the sale of a 7.66% stake in NBC Universal to

General Electric

(GE) - Get General Electric Company Report

for $2 billion.

The sale is part of the agreement between French media company Vivendi and GE for Vivendi's full exit from NBC Universal.

Comcast

TheStreet Recommends

(CMCSA) - Get Comcast Corporation Class A Report

, the cable TV provider, will then buy a controlling stake in NBC Universal from GE for $13.75 billion in cash and assets.

The remainder of Vivendi's stake -- 12.34% -- will be sold to GE for $3.8 billion upon completion of the GE and Comcast deal.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here:

Joseph Woelfel

>To submit a news tip, send an email to:

tips@thestreet.com

.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.