Abstract. In this second part of the paper [A. Quadrat, SIAM J. Control Optim., 40 (2003), pp. 266-299], we show how to reformulate the fractional representation approach to synthesis problems within an algebraic analysis framework. In terms of modules, we give necessary and sufficient conditions for internal stabilizability. Moreover, we characterize all the integral domains A of SISO stable plants such that every MIMO plant-defined by means of a transfer matrix whose entries belong to the quotient field K = Q(A) of A-is internally stabilizable. Finally, we show that this algebraic analysis approach allows us to recover on the one hand the approach developed in [M. C. Smith, IEEE Trans. Automat. Control, 34 (1989) Introduction. Using the algebraic analysis viewpoint of the fractional representation approach to analysis and synthesis problems [5,28,29], developed in the first part of the paper [17], we give necessary and sufficient conditions for internal stabilizability. Moreover, using these results, we prove that every multi-input multi-output (MIMO) plant-defined by means of a transfer matrixT are matrices whose entries belong to an integral domain A of single input single output (SISO) stable plants-is internally stabilizable iff A is a Prüfer domain [6,23]. From the fact that the intersection between coherent Sylvester domains (see [17] for more details) and Prüfer domains are just Bézout domains, we also recover the result of Vidyasagar [29]: every MIMO plant admits doubly coprime factorizations iff A is a Bézout domain. Hence, if the algebra A is a Prüfer domain but not a Bézout domain, there exist plants which are internally stabilizable but fail to admit doubly coprime factorizations. Therefore, it is not possible to parametrize all their stabilizing controllers by means of the Youla-Kučera parametrization [4,28]. These results allow us to explain the counterexamples exhibited in [1,12]. We prove that, over a projective-free domain A (e.g., H ∞ (C + ), RH ∞ ), every stabilizable system admits doubly coprime factorizations. Finally, we show that the previous results allow us to recover, on the one hand, the results of [25] and, on