Vivendi mum on NBC Uni stake
Has not commented on possibly acquiring a telecom firmAfter a board meeting in Paris on Wednesday, Vivendi remained mum on whether it would pursue the acquisition of a Brazilian telecom firm and whether it has moved closer to a decision on selling or retaining its 20% stake in NBC Universal.
A spokeswoman had no comment.
Vivendi every year has the chance to announce to General Electric, which controls 80% of NBC Uni, its decision to sell between Nov. 15 and early December.
While the issue was likely discussed at Wednesday's meeting, Vivendi seems ready to hold back on a final decision in hopes of getting a higher price for its stake. Analysts have valued it at $5 billion-$7 billion, but a deal that GE has been discussing with cable giant Comcast, which would take a 51% stake in NBC Uni if Vivendi sells, implies a value of about $6 billion.
Vivendi has until Friday to announce its final plans for Brazilian telecom firn GVT. It made a bid for it that recently got trumped by Spanish telecom firm Telefonica. Bowing out of the GVT running would reduce Vivendi's need to raise cash via a sale of its NBC Uni stake.