Telefonica Brasil SA incorporated on May 22, 1998, as a corporation (sociedade anônima) organized under the laws of the Federative Republic of Brazil, as a result of the restructuring and privatization of Telecomunicações Brasileiras S.A. and its operating subsidiaries, or the Telebrás System. The Company operates as a mobile telecommunications company in Brazil with position in postpaid mobile services. It is also the fixed telecommunications company in the state of São Paulo where it began its business as a fixed telephone service provider pursuant to its concession agreement. The Company provides local and long distance fixed telephone services; mobile services, including value-added services; data services, including broadband services and mobile data services; Pay TV services through DTH (a satellite technology), IPTV and cable; network services, including rental of facilities, as well as other services; wholesale services, including interconnection; digital services; services designed specifically for corporate customers; and the sale of wireless devices and accessories. Its fixed line services portfolio includes local, domestic long-distance and international long-distance calls provided both on the public and private regime. Fixed local services include activation, monthly subscription, public telephones and measured services. Intraregional long-distance services consist of all calls that originate in one local area or municipality and terminate in another local area or municipality within its concession region. Interregional long-distance services consist of state-to-state calls within Brazil and international long-distance services consist of calls between a phone line in Brazil and a phone line outside Brazil. Its mobile portfolio includes voice and broadband internet access through 3G and 4G as well as value-added services, including voice mail, voice mail translation in speech-to-text (Vivo Torpedo Recado), caller identification, voice minutes in unlimited bundles to other mobile phones of postpaid customers, ring tones (Vivo Som de Chamada), and services such as multi-media backup, cloud based services to save texts (Vivo Torpedo Center) and its MultiVivo services, which allows the customer to share a 3G, 3G Plus and 4G connection with up to five mobile devices. It offers wireless roaming services through agreements with local mobile service providers throughout Brazil and other countries, allowing subscribers to make and receive calls while outside of its concession areas. It provides fixed broadband through xDSL technologies, coaxial cable and FTTX. Under the brand Vivo Internet Fixa it offers internet with speeds ranging from 1Mbps to 10Mbps and under the brand Vivo Internet Fibra it offers the Ultra Broadband service with speeds of 50, 100, 200 and 300Mbps. It began offering subscription-based television, or Pay TV, services via DTH. It provides Pay TV services by means of DTH and IPTV technologies. The Company offers DTH to the entire state of São Paulo and offer IPTV and cable in the metropolitan area of the city of São Paulo. With the GVT acquisition, it has also been able to expand Pay TV services by offering GVT's services, which include a combination of standard channel line ups and interactive services like Video-on-Demand, or VoD, to consumers. The Company's network management technology ensures comprehensive management and supervision of all network processes and network performance for its wholesale clients. Its network management centers are located in São Paulo, Brasilia and Minas Gerais. Its competitors in fixed telecommunications services are: America Móvil (which includes NET, Claro and Embratel), TIM (which offers broadband services under the Live TIM brand) and SKY (currently controlled by AT&T).