Pacific Telesis Group Inc, the California and Nevada phone company based in San Francisco, is shuffling unregulated assets like mad: it has sold most of the telephone product assets of PacTel Products, which distributes of consumer and small business phones and phone systems, to a group of private investors on undisclosed terms, but is allowing the new San Francisco to operate under the name PacTel Products under the current management; and Pacific Telesis’ PacTel Communications Cos in Walnut Creek, California has formed PacTel Business Systems to market and service small telecommunications systems to businesses in California and Nevada, combining the operations of ABI American Businessphones Inc, bought in October 1988; Comprehensive Communications Inc, bought in June 1988; PacTel Communications Cos’ existing third-party maintenance company, PacTel Premisys; and the telecommunications division of PacTel InfoSystems; PacTel Business Systems will have 22 bases in California, Nevada, Oregon and Arizona.