AT&T's Comcast deal may include $12bn debt swap

NEWS Comcast's stuttering deal to buy AT&T Broadband took another step forward yesterday with news that the two companies may exchange as much as $11.8bn of debt in meeting the financial obligations of the deal. AT&T agreed to sell its cable division to US rival Comcast last December after months of haggling over the price and terms of the deal. If all goes smoothly, and the debt swap is approved, the deal may now be concluded before the end of this year. The deal will create a cable giant with a subscriber base of 22.3 million - far in excess of nearest rival AOL Time Warner's 12.7 million.