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April 22, 1997updated 05 Sep 2016 12:32pm

STET TEAM BIDS AGAINST GLOBAL ONE FOR RETEVISION STAKE

By CBR Staff Writer

Stet SpA is bidding with Spanish electricity groups Endesa SA and Union Fenosa SA for a 60% stake in Retevision SA, the television distributor that has been turned into the number two Spanish national telecommunications operator. The team is in competition with Banca Central Hispano SA, railway operator Renfe, plus France Telecom SA, Deutsche Telekom AG and Sprint Corp, which make up Global One. The Stet team, owned 50.55% by Endesa, 30% by Stet, and 19.45% by Union Fenosa, will use the Spanish partners’ 6,250 of fiber optic network. Retevision also revealed that Mannesmann AG was also interested in bidding but did not give details.

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