General Electric bought a stake of $2 billion in the American media house NBC. The $2 billion stake means that GE has bought a 20% share of NBC. The deal was struck between the French Company Vivendi and GE.

Vivendi has further announced that they would be further selling out a 12.34% stake in NBC to GE following the completion of a transaction of GE with the current owner of NBC, Comcast. The deals and the transaction being made currently are part of an agreement that was reached between the Companies in the year 2009.

Jean-Bernard Levy, Chief Executive of Vivendi has also announced that the funds raised from the sale of the stake in NBC would help Vivendi in financing a complete buyout of the firm SFR. Vivendi currently owns a 56% stake in the Company SFR.

Shares for Vivendi though have not been in the best of shapes as they have depreciated to a low of seven years in the European market. The fall in the prices of shares for Vivendi though has been blamed because of a lawsuit currently in progress in the U. S and stiff competition in the French telecommunication market.