Telefônica Brasil S.A. known as Telefônica Vivo since 2012, is a publicly traded Brazilian telecommunications company providing services for fixed and mobile telephony, data transmission, VAS and pay TV. The company has 97 million acceses: almost 15 million in fixed telephony, 73 million in mobile telephony, almost 2 million in pay television, with the remainer belonging to data and Internet connections. In 2015, revenue reached US$12.4 billion. The company provides a 3G network for over 3,500 municipalities, and 4G for 183 cities. In 2015, Telefônica acquired Brazilian fixed carrier GVT from Vivendi S.A. with the restriction that Telefônica unwind any stake in Milan-based Telecom Italia SpA. In 2016, GVT was merged by absorption with Telefônica Brasil. The São Paulo-based company operates as a subsidiary of Spanish broadband and telecom provider Telefónica S.A. and was incorporated after the restructuring and privatization of Telecomunicações Brasileiras S.A., thus entering the Brazilian market, in 1998. The company was organized under the name Telesp Participações S.A, afterwards becoming TELESP, and finally Telefônica Brasil S.A. after being merged with Vivo Participações, in 2011.