|Traded as||BM&F Bovespa: VIVT3, VIVT4
|Headquarters||São Paulo, Brazil|
|Key people||Paulo César Teixeira, (CEO)|
|Products||Fixed line, Mobile telecommunications, Internet services, Cable television|
|Revenue||US$ 14.6 billion (2013)|
|Operating income||US$ 1.5 billion (2013) |
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.
In 2010, Telefónica acquired the shares of Vivo that belonged to Portugal Telecom, and transferred control of the company to Telefônica ǀ Vivo, its subsidiary in Brazil. In 2011 the Telefônica ǀ Vivo incorporated all outstanding shares of Vivo and delisted the company of BM&F Bovespa. Currently the company has more than 90 million of customers.
In 2012 the company's services began to be marketed under the Vivo brand, its services, such as interet access, cable and satellite television, fixed and mobile telecommunications, among others, were integrated in this brand, launched in 2003 for the Telefónica-Portugal Telecom mobile telecommunications joint venture.
For the past 10 years, Telefonica/Vivo have been among the top 5 companies with most consumer complaints in Brazil. In 2013 it holds the uncontested number 1 spot and is one of the companies with the worst public images amongst Brazilian consumers, with tens of thousands of civil suits regarding abusive commercial practices, non-compliance with govt regulations and non-delivery of services paid for.
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