Telefônica Brasil trading as Vivo at the consumer level, and as Telefônica Vivo at the corporate level, is a Brazilian telecommunications group, subsidiary of Spanish Telefónica. It was originally formed as part of Telebrás, the state-owned telecom monopoly at the time. In 1998, Telebrás was demerged and privatized, with Telefónica taking Telesp, and rebranding it to Telefónica. The group has a participation of 15% in its revenues in the world and currently the company has more than 90 million of customers.
In 2010, Telefónica acquired the shares of Vivo that belonged to Portugal Telecom, and transferred control of the company to Telefônica-Vivo, its subsidiary in Brazil.