Paris – French media conglomerate Vivendi announced on Wednesday
that it has sold the remainder of its 12.34% stake in NBC Universal to General
Electric (NYSE: GE), for $3.8 billion.
In total, the company has sold its whole 20% stake
in NBC Universal for $5.8 billion.
"We are very satisfied that our
strategic objective to exit NBC Universal has been completed," said
Vivendi CEO Jean-Bernard LÃ©vy.
"We wish all parties well in their new
venture. Vivendi now has control of all its assets and is fully focused on
pursuing its profitable growth strategy."
The sale comes after U.S.
regulators with the Federal Communications Commission and Justice Dept.
antitrust division signed off on the merger deal between NBC Universal and