With approval by Stet SpA of AT&T Co’s bid to open negotiations to become Italtel SpA’s telecommunications equipment partner on Tuesday, AT&T is now very nearly home and dry. The Istituto per la Riconstruzione Industriale still has to give its approval today, and then the choice of partner will be passed to the government for formal ratification. AT&T sees the Stet decision putting it one one step away from an important breakthrough into the European market. Final negotiations have begun although a cautious Stet spokesperson said AT&T and Italtel were not close to agreement and definitive agreement could be as long as two months away.
