Report: What Vivendi’s Board Did Yesterday About Selling Its Stake in NBC Universal

Oct 15, 2009  •  Post A Comment

In what was clearly the most-watched board of director’s meeting by media watchers in quite some time, the board of director’s of Vivendi met yesterday, with observers hoping it would decide whether or not to sell its 20 percent stake in NBC Universal.

According to a Bloomberg report, the Vivendi board held off on making a decision about the matter.

Instead, the board was preoccupied with a bidding war that’s erupted in Vivendi’s attempt to buy the Brazilian telecommunication’s company GVT.

According to the Bloomberg report, an unnamed person familiar with the discussions said the board still favors an eventual sale of the NBC stake.

Vivendi still has time to decide what to do. As the report notes, "Vivendi has an option to sell its stake every year between mid-November and early-December until 2016."

So Vivendi could still decide to sell this year.

NBC and its parent General Electric have reportedly been in discussions primarily with Comcast about that company taking, initially, a 51% stake in NBCU, eventually ramping up to a larger stake in the company.

–Elizabeth Jensen and Chuck Ross

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