DBWI: Otto von Hapsburg doesn't become King of Spain?

In 1961, Fransico Franco was in a tough situation.
He wished to restore Spain's monarchy and secure a kingly successor after his death.

The only problem was, his supporters were split right down the middle between the Carlist and Alfonist camps.
Therefore, he couldn't restore one claimant to the throne without outraging a sizable portion of his entourage.
Franco found a solution in Otto von Hapsburg, former crown prince of Austria-Hungary.
Franco offered him the throne of Spain after his death, and his offer was graciously accepted.

But what if, for whatever reason, Otto von Hapsburg had refused the late Caudillo?
 
Probably Second Spanish Civil War. Not way that all/majority of Spaniards would had accepted restoration of Alfonian line or rise of Carlist branch. Even Otto I hadn't easy but he was able to get large popularity and secured parliamentarist system and democracy. I doubt that Bourbon claimants could had done same.
 
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