Comcast Sells AT&T; Shares to Salomon

Cable giant Comcast Corp. said it sold a 42-million-share block of AT&T; Corp.--about half its position in the telecommunications company--to Salomon Smith Barney.

Comcast, which is planning to buy AT&T;’s cable business in a colossal merger this year, did not disclose the price of the shares.

The Philadelphia company previously told investors it anticipated selling assets, including its 83.5million AT&T; shares and half its stake in Sprint Corp., in order to maintain its investment-grade debt rating.

Shares of New York-based AT&T; fell 21 cents to $12.95 on the New York Stock Exchange.

Comcast shares closed at $29.85 on Nasdaq, off 23 cents.