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. Last Updated: 07/27/2016

Comcast to Sell Unit

NEW YORK -- Cable television company Comcast Corp. said Wednesday it had agreed to sell its cellular telephone subsidiary to regional SBC Communications Inc. in a deal worth about $1.7 billion.

The transaction, which includes SBC's assumption of about $1.3 billion of Comcast debt, follows Vodafone Group PLC's agreement last week to acquire wireless phone giant AirTouch Communications Inc. Philadelphia-based Comcast and San Antonio-based SBC said they expect to complete the deal in the third quarter, subject to customary conditions, including antitrust clearance and regulatory approval.