SBC Communications Inc., majority owner of Cingular Wireless, may sell telephone lines valued at about $1.5 billion to help fund Cingular's purchase of AT&T Wireless Services Inc., people familiar with the matter said.
Lehman Bros. Holdings Inc. and Goldman Sachs Group Inc. were hired to seek bidders for about 500,000 lines, the people said. A sale, which would cover SBC customers mainly in rural Texas and Michigan, isn't imminent, they said.
