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We started to write our history in Brazil in 1998, when the Telefónica Group, from Spain, participated in the privatization process of the telecommunications companies of the Sistema Telebrás in the state of São Paulo. Between 1998 and 2000, the Telefónica Group acquired Telecomunicações de São Paulo S.A. (TELESP), Companhia Telefônica da Borda do Campo (CTBC), Telesp Participações S.A. and Centrais Telefônica de Ribeirão Preto S.A. (CETERP).

We initially offered our fixed-line and broadband services in the state of São Paulo. The portfolio began to grow in 2006, when we entered into a contract with Grupo Abril to offer broadband and cable TV services from Tevecap S.A., or TVA, the second largest Brazilian pay TV service provider with operations in the states of Paraná , Rio Grande do Sul, São Paulo and Rio de Janeiro.

We have always been a reference in telecommunications in São Paulo and followed an expansion path in the following years. In 2010, Telefónica acquired the shares of Vivo, which belonged to Portugal Telecom, becoming the leader in the Brazilian telecommunications market.

In 2011, we changed our name from Telecomunicações de São Paulo S.A. (TELESP) to Telefônica Brasil S.A., to reflect our operations across the country.

As a result of this change of name, on October 6, 2011, the Company's trading codes on B3 (formerly BM&FBovespa) changed from TLPP3 for common shares and TLPP4 for preferred shares to VIVT3 and VIVT4, respectively, with consequent change of the trading name to TELEF BRASIL. The trading code of our ADRs on the NYSE was changed from TSP to VIV.

In 2012, we started using Vivo as a commercial brand across the country, offering fixed and mobile telephony, broadband and pay TV.

In 2014, we acquired GVT, reinforcing our fixed network offer outside the state of São Paulo.

In 2017, we acquired Terra Networks Brasil S.A.. This was another step in our digital transformation process, with the objective of expanding and integrating the commercial offer of digital services for our customers and leveraging the advertising business.

On November 23, 2020, we completed the process of converting, in its entirety, preferred shares (traded with ticker VIVT4) into common shares (VIVT3), guaranteeing the expansion of rights to shareholders, in line with the highest level of Corporate Governance in the market. Thus, today we only trade common shares on B3 - Brasil, Bolsa, Balcão, with the ticker VIVT3, and on the New York Stock Exchange (NYSE), through the trading of American Depositary Receipts (ADRs), under the code VIV.

On December 14, 2020, our joint offer with TIM S.A. and Claro S.A. was declared the winner of the auction of the assets of the Oi Group's mobile telephony operation. The conclusion of the transaction still depends on the approval of the Conselho Administrativo de Defesa Econômica (Cade) and the Agência Nacional de Telecomunicações (Anatel).

Updated on December 22, 2020.