Italian state telecommunications holding company Stet SpA denied Italian press reports of an imminent broad-based alliance with AT&T Corp, while AT&T declined comment. A Stet spokesman had no specific comment to make on the reports, adding that the group was in continuous contact with several foreign telecommunications groups. Il Sole 24 Ore said a possible strategic alliance between Stet and AT&T could either involve Stet entering the Unisource consortium, which Telefonica de Espana SA would leave, or the two groups could create a new consortium to take part jointly in the privatization of Brazil’s Telebras phone company.
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