Vivendi is keeping its 20% stake in NBC Universal, saying it will not exercise its option to sell any of its holding in January.
The agreements between Paris-based Vivendi and Connecticut-based General Electric, which holds the other 80% of NBCU, also have been modified.
Vivendi’s right to demand an NBCU IPO has been extended to each November through 2016, while GE’s right to buy Vivendi’s interest now goes through each May from 2011 until 2017, at a minimum price tag of $8.3 billion until May 2009.
That price then goes up annually based on the U.S. Consumer Price Index.
Vivendi also said its liquidity right in the first year is now up to $4 billion from $3 billion and will remain $4 billion every year after.