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Vivendi Holds Up Comcast Takeover of NBCU

Comcast's plan to take control of NBC Universal this month has encountered a roadblock. The cable operator's acquisition of a 51% stake in NBCU is being held up because Vivendi and GE, the joint owners of NBCU, are $500 to $900 million apart in agreeing on a value for Vivendi's stake.

General Electric owns 80% of the company, and France's Vivendi owns 20%. GE needs to reach an agreement with Vivendi before it can sell majority control to Comcast. GE has placed a value on NBC Universal of $27 billion to $30 billion, say insiders.
Negotiations could drag on until Dec. 10, when Vivendi's window to exercise its option to sell its stake officially closes. After that time, Vivendi wouldn't have the opportunity to sell, perhaps even through an public offering, for another year.

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