Vivendi eyes NBC Universal exit
Friday, 20 November 2009
BARCELONA, Nov 19 (Reuters): Vivendi could exit from US media group NBCU Universal as it has no intention to be part of the future joint venture being discussed by Comcast and General Electric, its chief financial officer said Thursday.
Philippe Capron also told the Morgan Stanley Media & Telecoms conference that selling its 20 per cent stake in NBCU would give Vivendi "additional financial headroom" after it gained control of Brazil's telecoms operator GVT last week.
"We are not interested in staying onboard a new GE-Comcast ownership of NBCU ... we will exit and it will give us more headroom," Capron said, adding "We are not there yet."
Capron later told newsmen on the sideline of the conference: "We have never been closer to the end of this story."
But Vivendi's board had made no decision on the matter, he said.
When asked if negotiations over NBCU were about the price, he said: "It often is."
General Electric, which owns 80 per cent of NBCU, and Comcast Corp have agreed on the structure of the board for the proposed joint venture with NBC Universal, a person familiar with the matter said last week.
Philippe Capron also told the Morgan Stanley Media & Telecoms conference that selling its 20 per cent stake in NBCU would give Vivendi "additional financial headroom" after it gained control of Brazil's telecoms operator GVT last week.
"We are not interested in staying onboard a new GE-Comcast ownership of NBCU ... we will exit and it will give us more headroom," Capron said, adding "We are not there yet."
Capron later told newsmen on the sideline of the conference: "We have never been closer to the end of this story."
But Vivendi's board had made no decision on the matter, he said.
When asked if negotiations over NBCU were about the price, he said: "It often is."
General Electric, which owns 80 per cent of NBCU, and Comcast Corp have agreed on the structure of the board for the proposed joint venture with NBC Universal, a person familiar with the matter said last week.