Telecomms analysts believe Opera, the joint venture between Italy's telco Stet, and its electricity utility, is days away from announcing that it has taken a controlling stake in Retevision, Spain's second telco.
The combined force of Retevision and Stet, which is finalising its merger with Telecom Italia, will be a formidable challenge to BT's plans to target the lucrative Latin American market. BT, along with US partner MCI, recently gained Spain's premier telco, Telefonica, as a strategic partner to attack this market.
However, Stet's position was made stronger when it recently annnounced a close partnership with AT&T and Unisource, the European telecomms alliance which Telefonica abandoned in favour of working with BT.
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