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The Ledger - EST. 1978 - Nashville Edition

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VOL. 37 | NO. 6 | Friday, February 08, 2013

Wall Street: Comcast getting great deal on NBCU

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NEW YORK (AP) — Analysts believe General Electric gave Comcast a great deal on the half of NBCUniversal that Comcast doesn't already own.

Matthew Harrigan at Wunderlich Securities says GE "mispriced" the $16.7 billion deal announced late Tuesday.

Doug Mitchelson at Deutsche Bank says he had expected that GE would have held out for a better price. He asked Comcast executives on a conference call Wednesday morning if they sweetened the deal somehow.

Comcast Corp.'s chief financial officer, Michael Angelakis, says GE just liked that they are able to sell their stake earlier than expected. Comcast was going to buy GE out gradually, finishing in 2018.

Comcast shares rose 6.2 percent in morning trading, while General Electric Co.'s stock rose 3.3 percent.