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To: CGarcia who wrote (23648)	6/22/1999 1:04:00 PM
From: Tom Tallant	Read Replies (2) of 41369

NEW YORK, June 17 (Reuters) - SBC Communications Inc. <SBC.N> on Thursday said it began a tender offer for $1 billion of outstanding notes issued by Comcast Cellular Corp. in connection with SBC's purchase of Comcast. SBC offered to purchase all outstanding 9 1/2 percent senior notes due May 2007 issued by Comcast. The purchase price will be based on a yield spread of 50 basis point over comparable Treasuries plus accrued and unpaid interest, a statement said. The purchase price will also include 3.5 percent of principal for notes tendered before the consent deadline, which is expected to be June 30, the statement said. Goldman Sachs & Co. is dealer manager for the offer. A Goldman official declined comment regarding terms of the offer. hhhhmmmm...interesting...:-) Best, Tom

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