Vivendi has sold the remainder of its stake in NBC Universal to GE, clearing the way for Comcast to become the majority owner of NBCU.
Vivendi sold its remaining $3.8 billion to GE on Monday, bringing the total sale price of its stake to $5.8 billion, excluding dividends, Vivendi said.
GE's buyback of Vivendi's stake is temporary in anticipation of Comcast acquiring 51 percent ownership of NBCU. The deal is expected to close Friday.
“We are very satisfied that our strategic objective to exit NBC Universal has been completed," said Vivendi CEO Jean-Bernard Lévy in a statement. " 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."
Also Wednesday, NBCU sold Spanish-language station KWHY-TV Los Angeles to investment company The Meruelo Group. Terms of the deal, which requires FCC approval, were not disclosed. Telemundo paid about $239 million when it bought the station from Harriscope of Los Angeles Inc. in February 2001.