Comcast to form new company with CFO Michael Angelakis

[March 31, 2015]  (Reuters) - Comcast Corp, the largest U.S. cable operator, said it would form a new company with its chief financial officer, Michael Angelakis, to invest in and focus on operating growth-oriented companies both in the United States and international markets.

Comcast said Angelakis would step down from his position as CFO and serve as the chief executive of the new company.

Comcast said the new company would have total capital commitments of up to $4.1 billion, of which $4 billion will be invested by Comcast. At least $40 million will be invested by Angelakis.

(Reporting By Lehar Maan in Bengaluru; Editing by Maju Samuel)

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