French media conglomerate Vivendi has sold 7.66% of its stake in US broadcast group NBC Universal to General Electric for US$2bn (1.5bn).
This initial sale of part of its 20% stake in the US company, which operates the US network NBC and production and distribution companies, comes as part of an agreement that the companies set out in 2009. It will sell the remaining 12% for US$3.8bn after the completion of GE’s deal with Comcast, which is in the process of taking over the company. Vivendi is expected to use the cash to acquire the remaining shares in local telco SFR that it currently does not own.
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