Vivendi, GE Iron Out Terms For NBC Universal Stake

Apparently, Vivendi SA is still working out terms with its partner General Electric Co., asking for a higher price and deal protections as the French company seeks to exit its minority stake in NBC Universal. The Vivendi-GE talks are the last major hurdle in a deal GE has been negotiating with Comcast Corp., in which the U.S. cable operator would take control of NBC Universal, according to people familiar with those talks. GE currently owns 80% of the television and film company, while Vivendi holds 20%. One issue in the GE-Vivendi talks is how Vivendi would be paid. Vivendi has asked for GE to buy out at least part of its 20% stake before a Comcast deal would likely close. That stipulation would give Vivendi some measure of protection if the Comcast deal does not go through. A Comcast deal could take from six months to more than a year to pass muster in Washington. Vivendi has also pushed GE to boost what it would pay for Vivendi's 20% interest.