Bidders Line Up For Stake In Stet Unit

GTE, the large US telephone company, said on Sunday it was among those companies planning to make a bid for the 61 per cent stake in Seat, probably in partnership with Italian companies.

Of the 20 or so companies which have expressed an interest in the division, which will be demerged from Stet at the end of this year, about half are European.

Analysts believe the whole of Seat could be worth more than $2 billion.