The Telefónica Group has been in the country since 1990.
The mobile business is run by Telefónica Móviles through Movistar, a local subsidiary.
Integration continues as of August 2015, but the now merged network is Germany's largest in customers.
It owns Telefónica de España which is the largest fixed phone and ADSL operator in Spain, Telefónica Móviles, the largest mobile phone operator in Spain (under the Movistar brand), and Terra Networks, S. Spain now has the most extensive fibre-to-home network in Europe, as of April 2016.
Telefónica operates the Movistar mobile phone brand throughout Latin America.
In Mexico it occupies a distant second place and it is the largest in Chile, Venezuela, Brazil, and Peru.
Telefónica is a 100% listed company with more than 1.5 million direct shareholders.
Its share capital currently comprises 4.563.996.485 ordinary shares traded on the Spanish Stock Market (Madrid, Barcelona, Bilbao and Valencia) and on those in London, New York, Lima, and Buenos Aires.) is a Spanish multinational broadband and telecommunications provider with operations in Europe, Asia, and North, Central and South America.Operating globally, it is one of the largest telephone operators and mobile network providers in the world.On 18 April 2006, Telefónica's president Cesar Alierta signed an agreement with the Colombian government to buy 50% and one share of the state-owned communications company, Colombia Telecomunicaciones (TELECOM).With this sale, Telefónica became the largest Colombian land-line operator, and also gained an important presence in the local, long-distance and broadband market.On 26 January 2006 Telefónica completed its £17.7 billion (€25.7 billion) acquisition of the UK-based operator O2 which also provided mobile phone services in Germany under the O2 brand.