M&A

29 October, 2009

Comcast NBC deal held up by various issues-sources

NEW YORK, Oct 29 (Reuters) - Comcast Corp (CMCSA.O) and General Electric Co (GE.N) are struggling to iron out a few critical issues that are holding up a joint venture deal for NBC Universal, people familiar with the matter said.

While an agreement will likely be reached to give Comcast a 51 percent stake in the NBC Universal venture, advisers are trying to draft governance and exit provisions for GE's 49 percent stake that would be palatable to both sides, one of the sources said.

Differences in valuing the various assets -- Comcast's cable networks, Vivendi SA's (VIV.PA) stake in NBC Universal and the proposed new company itself -- could also delay the complex deal, this person said. Under terms being discussed, the joint venture is valued at around $30 billion. (Reporting by Anupreeta Das and Jui Chakravorty Das, additional reporting by Yinka Adegoke)

Source: http://www.reuters.com