GE and Vivendi stall over NBC stake valuation
November 23, 2009
General Electric and Vivendi are apparently $1 billion apart in their valuation of the French group's stake in NBC Universal, damping hopes of a quick resolution to the stand-off holding up Comcast's bid for a majority stake in the group.
GE and Comcast, the cable operator that wants to take a 51 per cent stake in NBC Universal, have been eager to unveil an agreement but GE and Vivendi remain $1bn-$2bn apart on the valuation of the French group's 20 per cent stake in NBC Universal.
Comcast's offer values NBC Universal at about $30 billion, implying a $6 billion valuation for Vivendi's stake. Vivendi in June estimated the value of the stake at $6.3 billion, so would have to take a further writedown should it receive less.