Former type state-owned company Defunct 1997 Number of employees 133,000 (in 1994) Successor Telecom Italia Headquarters Turin, Rome | Industry Telecommunication Area served Nationwide Founded 21 October 1933 Ceased operations 1997 | |
Net income 33 billion (lira) in 1994 Owner Istituto per la Ricostruzione Industriale | ||
STET – Società Finanziaria Telefonica (STET - Telephonic Financial Company in English) was an Italian company that operated in the telecommunications sector. It was IRI's holding company for this sector.
History
STET was founded by IRI on October 21 of 1933 as the "STET - Società Torinese per l'Esercizio Telefonico" and was based in Turin with headquarters in Rome. The aim of the company was to address technical, administrative and accounting of all state's company for telephone services and for public telecommunications services in Italy.
In 1992, with the privatization carried out by first Amato government is changed to be "STET - Società Finanziaria Telefonica S.p.A".
In 1993 STET's managing director, Miro Allione left the company to create Stream, one of the largest pay TV and digital satellite television networks in Italy.