Telefónica, S.A. (Spanish pronunciation: [teleˈfonika]) is a Spanish multinational telecommunications company headquartered in Madrid, Spain. It is one of the largest telephone operators and mobile network providers in the world. It provides fixed and mobile telephony, broadband and subscription television, operating in Europe and the Americas.
As well as the Telefónica brand, it also trades as Movistar, O2 and Vivo. The company is a component of the Euro Stoxx 50 stock market index. As of May 2017, Telefónica was the 110th largest company in the world, according to Forbes.
In 1945, the state acquired by law a share of 79.6% of the company. This stake was diluted by a capital increase in 1967. Until the liberalisation of the telecom market in 1997, Telefónica was the only telephone operator in Spain it still holds a dominant position (over 75% in 2000).
Nowadays, Telefónica is present in more than 20 countries around Europe and America.