GE Makes Final $3.8 Billion Payment To Vivendi
January 26, 2011 at 8:02 AM (PT)
VIVENDI SA, the parent company of UNIVERSAL MUSIC GROUP, has received the final $3.8 billion payment from GENERAL ELECTRIC CO. for its former 20% stake in NBC UNIVERSAL. The company is expected to use the capital to buy full control of mobile-phone division SFR.
"VIVENDI now has control of all its assets and is fully focused on pursuing its profitable growth strategy," VIVENDI CEO JEAN-BERNARD LEVY said in the statement released TODAY (1/26).