GE To Buy 7.66% Stake of Vivendi In NBC

Vivendi SA VIVDY announced on Monday that it had sold a 7.66% stake in NBC Universal to General Electric Company GE. The deal was valued at $2 billion and is in accordance with a deal that will remove Vivendi completely from NBC Universal. In addition to this, Vivendi said that the remaining 12.34% of its stake will be bought by GE for $3.8 billion after the closing of the deal between GE and Comcast CCW. Vivendi is a communications and entertainment company based out of France. VIVDY shares gained 0.49% to $26.93 at 11:31 am. Read more from Benzinga's Company news.