Telefonica S.A. (Telefonica) is a diversified telecommunications company, which provides a range of services through telecommunications networks. The Company is focused on providing fixed and mobile telephony services. Telefonica is present principally in Spain, Europe and Latin America. In April 2007, Telefonica O2 Europe, Plc, the Company’s wholly owned subsidiary completed the disposal of Airwave O2, Ltd. (Airwave). In October 2007, the Company’s Brazilian subsidiary, Telecomunicacoes de Sao Paulo, S.A. (Telesp), completed the acquisition of the Brazilian company NavyTree Participacoes, S.A. In March 2008, Telco acquired 0.91% of Telecom Italia’s ordinary share capital.
(Source: 20-F)
