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Vivendi mum on possible NBC sale
By Dominique Vidalon |
September 22, 2009, Tuesday
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Print Edition
Print Edition
VIVENDI declined to say yesterday what it planned to do with its 20 percent holding in United States media and entertainment group NBC Universal amid mounting speculation that it may unload the stake this year.
The New York Times said last Friday that Vivendi, which has made a US$2.9 billion offer for Brazil's GVT Holdings, appeared likely to sell its stake in General Electric's NBC Universal this year.
This could in turn pave the way for a possible initial public offering, the paper said.
Vivendi Chief Executive Jean-Bernard Levy last week described the stake in NBC Universal as "noncore," but said the company had not decided whether to exercise its option and will not announce its decision until November.
"Vivendi has no comment to add to what Mr Levy has said," a spokeswoman for Europe's largest entertainment group said.
A GE spokeswoman declined to comment on what Vivendi might do, but said the largest US conglomerate would have several options available to it if the French company chose to sell.
NBC Universal, which owns Universal Pictures and the NBC television network, was created in 2004 by the merger of Vivendi Universal Entertainment and NBC businesses.
The New York Times said last Friday that Vivendi, which has made a US$2.9 billion offer for Brazil's GVT Holdings, appeared likely to sell its stake in General Electric's NBC Universal this year.
This could in turn pave the way for a possible initial public offering, the paper said.
Vivendi Chief Executive Jean-Bernard Levy last week described the stake in NBC Universal as "noncore," but said the company had not decided whether to exercise its option and will not announce its decision until November.
"Vivendi has no comment to add to what Mr Levy has said," a spokeswoman for Europe's largest entertainment group said.
A GE spokeswoman declined to comment on what Vivendi might do, but said the largest US conglomerate would have several options available to it if the French company chose to sell.
NBC Universal, which owns Universal Pictures and the NBC television network, was created in 2004 by the merger of Vivendi Universal Entertainment and NBC businesses.
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