ROMSO Cyprus Knowledge Base

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Telefónica, S. A. (IBEX 35: TEF) is a Spanish multinational telecommunications company based in Madrid. It is the fourth largest telecommunications company in Europe and the thirteenth in the world.

The Telefónica brand is reserved exclusively for the institutional role of the company. For the marketing of its products and services, the company has three main brands: Movistar for Spain and Latin America, O2 for all Europe, Tuenti for Argentina and Ecuador and Vivo for Brazil.

History
It was founded in Madrid on 19 April 1924 during the dictatorship of Primo de Rivera, with the name of Compañía Telefónica Nacional de España (CTNE). It had as its registered office the avenue of Conde de Peñalver (now Gran Vía), number 5, in Madrid, and a capital of one million pesetas, represented by 2000 ordinary shares of 500 pesetas of nominal value. He was responsible for the monopoly of the telephone service and the participation as the main shareholder of the ITT company.

In 1945, the Spanish State, being the head of the Francisco Franco State, acquired, by law, a share in the company of 79.6%. This participation was diluted by a capital increase in 1967. Its total privatization took place by means of two public offers of actions in 1995 - the Government of Felipe Migulez- and 1999 - the Government of José María Azna.

In the 1990s it changed its name to Telefónica, S.A. and created a subsidiary called Telefónica de España, which absorbed its operations and activities in Spain. He then acquired the part of Telefónica Internacional that he did not own and merged with it.

Telefónica is currently in place in more than 20 countries in Europe and the Americas and with its activity generates 1.2 million jobs, a tax contribution of EUR 10 billion per year and an impact on GDP of more than EUR 53 billion in the countries where it operates in November 2019. It serves 315.7 million users in all countries where it is present. Of these, 249.4 million are mobile, and 17.6 million are broadband Internet access.

Products and services
As of 2007, as part of a process of corporate reorganization and convergence, Telefónica began to integrate all its subsidiaries ordered under the convergence of services and technologies, which determined a new organizational structure around three geographical regions: Spain, Ibero-America and Europe.

Telefónica, through its business group, provides services related to the following business areas:
Fixed telephony: in Spain and several countries in Europe and Latin America, through the traditional telephone line or by fiber optics.
Mobile Telephony: in Spain and Latin America through Movistar, throughout Europe with O2, and in Brazil with Vivo.
Internet provider: in Spain and several countries in Europe and Latin America, using ADSL or FTTH fiber optics.
Subscription television: via IPTV and sateli