Telefonica SA is a Spain-based company active in the telecommunications and digital services sectors. The Company operates through three business segments: Telefonica Latin America, Tefonica Europa, and Others. It provides public and private telecommunication, media and entertainment services; under such brands as Telefonica, Movistar, O2 and Vivo, among others. It offers fixed telephony accesses, Internet and data accesses, mobile accesses and pay television .With presence in Europe and Latin America, it operates in 25 countries through such subsidiaries as Telefonica Emisiones SAU, Telefonica Brasil SA, Telefonica Chile SA, Colombia Telecomunicationes SA, Telefonica Europe BV, and MMO2 Plc, among others. In January 2014, Telefonica SA closed sale of 65.9% stake in Telefonica Czech Republic as to PPF Group; as a result of the transaction Telefonica SA holds a 4.9% stake in Telefonica Czech Republic.