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Appendix I: Scope of Consolidation (Tables) | 12 Months Ended
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Dec. 31, 2024
Disclosure Of Consolidations [Abstract] |
Schedule of Main Companies of the Telefonica Group | The table below lists the main companies comprising the Telefónica Group at December 31, 2024 and the main investments consolidated using the equity method. Included for each company are the company name, corporate purpose, country, functional currency, share capital (in millions of functional currency units), the Telefónica Group’s effective shareholding and the company or companies through which the Group holds a stake. Parent Company Telefónica,S.A.
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Telefónica Spain |  |  |  |  |
Telefónica de España, S.A.U. Telecommunications service provider | Spain | EUR | 1,024 |  | 100 | % | Telefónica, S.A.
Telefónica Móviles España, S.A.U. Wireless communications services provider | Spain | EUR | 209 |  | 100 | % | Telefónica, S.A.
Teleinformática y Comunicaciones, S.A.U. (Telyco) Promotion, marketing and distribution of telephone and telematic equipment and services | Spain | EUR | 8 |  | 100 | % | Telefónica España Filiales, S.A.U.
Telefónica Soluciones de Informática y Com. de España S.A.U. Telecommunications systems, networks and infrastructure engineering | Spain | EUR | 2 |  | 100 | % | Telefónica de España, S.A.U.
Telefónica Soluciones de Outsourcing, S.A.U. Promotion and networks management | Spain | EUR | 1 |  | 100 | % | Telefónica España Filiales, S.A.U.
Telefónica Servicios Integrales de Distribución S.A.U. Logistic service provider | Spain | EUR | 2 |  | 100 | % | Telefónica de España, S.A.U.
Telefónica España Filiales, S.A.U. Organization and operation of multimedia service-related business | Spain | EUR | 226 |  | 100 | % | Telefónica, S.A.
Telefónica Servicios Audiovisuales, S.A.U. Provision of all type of audiovisual telecommunications services | Spain | EUR | 6 |  | 100 | % | Telefónica España Filiales, S.A.U.
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Telefónica Spain (cont.) |  |  |  |  |
Telefónica Broadcast Services, S.L.U. DSNG-based transmission and operation services | Spain | EUR | — |  | 100 | % | Telefónica España Filiales, S.A.U.
Telefónica Audiovisual Digital, S.L.U. Provision of all type of audiovisual telecommunications services | Spain | EUR | 46 |  | 100 | % | Telefónica España Filiales, S.A.U.
Telefónica Global Technology, S.A.U. Global management and operation of IT systems | Spain | EUR | 16 |  | 100 | % | Telefónica España Filiales, S.A.U.
Telefónica Educación Digital, S.L.U. Vertical e-learning portal | Spain | EUR | 1 |  | 100 | % | Telefónica España Filiales, S.A.U.
Bluevia Fibra, S.L. Operations and exploitation of FTTH network and other connectivity services. | Spain | EUR | 68 |  | 55 | % | Telefónica España Filiales, S.A.U. (30%) Telefónica Infra, S.L.U. (25%)
Solar360 Soluciones de Instalacion y Mantenimiento S.L. Marketing and management in the installation, sale and maintenance of photovoltaic equipment | Spain | EUR | — |  | 51 | % | Telefónica de España, S.A.U.
Telefónica Ingeniería de Seguridad, S.A.U. Security services and systems | Spain | EUR | 5 |  | 100 | % | Telefónica España Filiales, S.A.U.
Compañía Mayorista de Fibra S.L. Provision of telecommunications services through FTTH network operation | Spain | EUR | — |  | 100 | % | Telefónica España Filiales, S.A.U.
Telefónica Germany |  |  |  |  |
Telefónica Deutschland Holding A.G Holding company | Germany | EUR | 2,975 |  | 96.85 | % | Telefónica Germany Holdings Limited (69.22%) Telefónica Local Services GmbH (27.63%)
Telefónica Germany GmbH & Co. OHG Wireless communications services operator | Germany | EUR | 51 |  | 96.85 | % | Telefónica Deutschland Holding A.G (96.84%) T. Germany Management, GmbH (0.01%)
E-Plus Service GmbH Wireless communications services operator | Germany | EUR | — |  | 96.85 | % | Telefónica Germany GmbH & Co. OHG
Telefónica Germany Business Sales GmbH Technological and consulting services in Big Data provider | Germany | EUR | — |  | 96.85 | % | Telefónica Germany GmbH & Co. OHG
O2 Telefónica Deutschland Finanzierungs GmbH Integrated cash management, consulting and financial support for Group companies | Germany | EUR | — |  | 96.85 | % | Telefónica Germany GmbH & Co. OHG
Telefónica Germany 1. Beteiligungsgesellschaft mbH Holding company | Germany | EUR | 5 |  | 96.85 | % | Telefónica Germany GmbH & Co. OHG
Ortel Mobile GmbH Provision of international mobile communications services | Germany | EUR | — |  | 96.85 | % | Telefónica Germany GmbH & Co. OHG
Telefónica Germany Retail GmbH Office machinery, computers, peripheral equipment and software | Germany | EUR | — |  | 96.85 | % | Telefónica Germany GmbH & Co. OHG
AY YILDIZ Communications GmbH Telecommunications service provider | Germany | EUR | — |  | 96.85 | % | Telefónica Germany GmbH & Co. OHG
TCHIBO Mobilfunk GmbH & Co. Marketing and sales of mobile services | Germany | EUR | 7 |  | 48.42 | % | Telefónica Germany GmbH & Co. OHG
Telefónica Brazil |  |  |  |  |
Telefônica Brasil, S.A. Wireline telephony operator | Brazil | BRL | 62,071 |  | 76.49 | % | Telefónica Latinoamérica Holding, S.L.U. (37.34%) Telefónica, S.A. (38.90%) Telefónica Chile, S.A. (0.06%)
Terra Networks Brasil, Ltda. ISP and portal | Brazil | BRL | 317 |  | 76.49 | % | Telefônica Brasil, S.A.
Telefônica Infraestructura e Segurança Ltda. Security services and systems | Brazil | BRL | 321 |  | 76.49 | % | Terra Networks Brasil, Ltda.
Vivo ventures fundo de investimento em participacoes multiestrategia. Investment funds | Brazil | BRL | 145 |  | 76.96 | % | Telefônica Brasil, S.A. (74.96%) Telefonica Open Innovation S.L.U. (2.00%)
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Telefónica Brazil (cont.) |  |  |  |  |
Vale Saúde, Administradora de Cartões Ltda. Provision of health services | Brazil | BRL | 7 |  | 76.49 | % | POP Internet Ltda.
Telefônica Cloud e Tecnologia do Brasil S.A. Cybersecurity, electronic information security and IT consultancy | Brazil | BRL | 104 |  | 88.24 | % | Telefônica Brasil, S.A. (44.13%) Telefónica Cybersecurity & Cloud Tech S.L. (44.11%)
IPNET Serviços em Nuvem e Desenvolvimento de Sistemas Ltda Software and systems resale, professional services and project management | Brazil | BRL | 31 |  | 88.24 | % | Telefônica Cloud e Tecnologia do Brasil S.A.
IPNET USA, LLC Software and systems resale, professional services and project management | USA | USD | 1 |  | 88.24 | % | Telefônica Cloud e Tecnologia do Brasil S.A.
Telefónica Hispam |  |  |  |  |
Telefónica Hispanoamérica, S.A.U. Holding company | Spain | EUR | 108 |  | 100 | % | Telefónica, S.A.
TLH Holdco, S.L.U. Holding company | Spain | EUR | 87 |  | 100 | % | Telefónica, S.A.
Telefónica Venezolana, C.A. Wireless communications operator | Venezuela | VED | 1,905 |  | 100 | % | Telefónica Hispanoamérica, S.A.U. (97.13%) Comtel Comunicaciones Telefónicas, S.A. (2.87%)
Colombia Telecomunicaciones S.A. ESP BIC Communications services operator | Colombia | COP | 3,410 |  | 67.5 | % | Telefónica Hispanoamérica, S.A.U.
Operaciones Tecnológicas y Comerciales S.A.S Communications services operator | Colombia | COP | 3,330 |  | 67.5 | % | Colombia Telecomunicaciones S.A. ESP BIC
Unired Colombia S.A.S Service provider related to telecommunications | Colombia | COP | 12,826 |  | 33.75 | % | Colombia Telecomunicaciones S.A. ESP BIC
Pegaso Pcs S.A. de C.V. Communications services operator | Mexico | MXN | 3,241 |  | 100 | % | Telefónica Hispanoamérica, S.A.U. (99.98%) Celular de Telefonía S.A. de CV. (0.02%)
Celular de Telefonía S.A. de CV. Consulting services | Mexico | MXN | 2,650 |  | 100 | % | Pegaso Pcs S.A. de CV. (67.65%) Telefónica Hispanoamérica, S.A.(32.35%)
Terra Networks México, S.A. de C.V. ISP, portal and real-time financial information services | Mexico | MXN | 305 |  | 100 | % | Telefónica Hispanoamérica, S.A.U.
Fisatel México, S.A. de C.V. SOFOM E.N.R. Integrated cash mangement, consulting and financial support for Group companies | Mexico | MXN | 1,805 |  | 100 | % | Telefónica Hispanoamérica, S.A.U. (99.99%) Pegaso Pcs S.A. de CV. (0.01%)
Otecel, S.A. Wireless communications services provider | Ecuador | USD | 183 |  | 100 | % | Telefónica Hispanoamérica, S.A.U.
Telefónica Móviles Argentina, S.A. Telecommunications service provider | Argentina | ARS | 188,019 |  | 100 | % | TLH Holdco, S.L.U.
Telefónica Móviles Chile, S.A. Wireless communications services operator | Chile | CLP | 1,631,069 |  | 100 | % | Inversiones Telefónica Internacional Holding SpA. (99.14%) Telefónica Hispanoamérica, S.A.U. (0.86%)
Telefónica Chile, S.A. Local and international long distance telephony services provider | Chile | CLP | 874,773 |  | 99.39 | % | Telefónica Móviles Chile, S.A.
Telefónica Chile Holdings, S.L.U. Holding Company | Spain | EUR | — |  | 100 | % | Telefónica Hispanoamérica, S.A.U.
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Telefónica Hispam (cont.) |  |  |  |  |
Telefónica Empresas Chile S.A. Provision of voice and data telephone communications services | Chile | CLP | 103,756 |  | 99.39 | % | Telefónica Chile, S.A.
Telefónica Chile Servicios Corporativos Limitada HUB service provider | Chile | CLP | 3 |  | 99.69 | % | Telefónica Chile, S.A. (49.54%) Telefónica Empresas Chile S.A. (1.30%) Telefónica Móviles Chile, S.A. (48.85%)
Inversiones Telefónica Internacional Holding, SpA. Holding Company | Chile | CLP | 511 |  | 100 | % | Telefónica Chile Holdings S.L.
Telefónica del Perú, S.A.A. Local, domestic and international long distance telephone service provider | Peru | PEN | 831 |  | 99.32 | % | Telefónica Hispanoamérica, S.A.
Media Networks Latin America, S.A.C Telecommunications research activities and proyects | Peru | PEN | 158 |  | 100 | % | Telefónica Latinoamérica Holding, S.L.U.
Pangeaco, S.A.C Fibre rollout and capacity service provision | Peru | PEN | 4 |  | 100 | % | Telefónica Hispanoamérica, S.A.U. (99.99%) Telefónica Latinoamérica Holding, S.L.U. (0.01%)
Telefónica Móviles del Uruguay, S.A. Wireless communications and services operator | Uruguay | UYU | 1,107 |  | 100 | % | Telefónica Hispanoamérica, S.A.U.
Other companies |  |  |  |  |
Telefónica Infra, S.L.U. Holding company | Spain | EUR | 12 |  | 100 | % | Telefónica , S.A.
Telefónica Infra Germany GmbH Broadband telecommunications operator | Germany | EUR | — |  | 100 | % | Telefónica Infra, S.L.U.
Telefónica O2 Holdings Ltd. Holding company | United Kingdom | GBP | 9 |  | 100 | % | Telefónica, S.A. (99.99%) Telefónica Capital S.A.U. (0.01%)
MmO2 Ltd. Holding company | United Kingdom | GBP | — |  | 100 | % | Telefónica O2 Holding Ltd.
Telefónica Germany Holdings Ltd. Holding company | United Kingdom | EUR | 3,463 |  | 100 | % | O2 (Europe) Ltd.
O2 (Europe) Ltd. Holding company | United Kingdom | EUR | 6,895 |  | 100 | % | Telefónica, S.A.
Telefónica International Holding, B.V Holding company | Netherlands | EUR | — |  | 100 | % | Telefónica Latinoamérica Holding, S.L.
Telefónica Latinoamérica Holding, S.L.U. Holding company | Spain | EUR | 291 |  | 100 | % | Telefónica, S.A.
Telefónica Global Solutions, S.L.U. International service provider | Spain | EUR | 1 |  | 100 | % | Telefónica, S.A
Telefonica Global Solutions USA, Inc. Provision of telecommunications services | USA | USD | 202 |  | 100 | % | Telefónica Global Solutions, S.L.U.
Telefónica Global Solutions Germany GmbH. International service provider | Germany | EUR | — |  | 100 | % | Telefónica Global Solutions, S.L.U.
Telefónica Global Solutions México, S.A. de C.V. Carrying out research activities and projects in the field of telecommunications | Mexico | MXN | 67 |  | 100 | % | Telefónica Global Solutions, S.L.U.
Telefónica Innovación Digital, S.L.U. Carrying out research activities and services in the field of telecommunications. Holding company | Spain | EUR | 28 |  | 100 | % | Telefónica, S.A
Telefónica Digital Ltd. Developer Telco Services | United Kingdom | GBP | 45 |  | 100 | % | Telefónica Innovación Digital, S.L.U.
Telefonica Open Innovation S.L.U. Talent identification and development in ICT. | Spain | EUR | 2 |  | 100 | % | Telefónica Innovación Digital, S.L.U.
Wayra Chile Tecnología e Innovación SpA Technological innovation based business project development | Chile | CLP | 29,899 |  | 100 | % | Telefonica Open Innovation S.L.U.
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Other companies (cont.) |  |  |  |  |
Wayra Brasil Desenvolvedora e Apoiadora de Projetos Ltda Technological innovation based business project development | Brazil | BRL | 52 |  | 100 | % | Telefonica Open Innovation S.L.U. (99.99%) Telefónica Innovación Digital, S.L.U. (0.01%)
WY Telecom, S.A. de C.V. Talent identification and development in ICT | Mexico | MXN | 134 |  | 100 | % | Telefonica Open Innovation S.L.U. (99.99%) Telefónica Innovación Digital, S.L.U. (0.01%)
Wayra Argentina, S.A. Talent identification and development in ICT | Argentina | ARS | 7,607 |  | 100 | % | Telefonica Open Innovation S.L.U. (95%) Telefónica, S.A. (5%)
Wayra Colombia, S.A.S. Technological innovation based business project development | Colombia | COP | 2,304 |  | 100 | % | Telefonica Open Innovation S.L.U.
Proyecto Wayra, C.A. Commercial, industrial and mercantile activities | Venezuela | VED | 13 |  | 100 | % | Telefónica Venezolana, C.A.
Wayra Perú Aceleradora de Proyectos, S.A.C. Technological innovation based business project development | Peru | PEN | 28 |  | 100 | % | Telefonica Open Innovation S.L.U.
Wayra UK Ltd. Technological innovation based business project development | United Kingdom | GBP | — |  | 100 | % | Telefonica Open Innovation S.L.U.
Terra Networks Argentina, S.A. ISP and portal | Argentina | ARS | 287 |  | 100 | % | Telefónica Latinoamérica Holding, S.L. (99.99%) Telefónica International Holding, B.V. (0.01%)
Telfisa Global, B.V. Integrated cash management, consulting and financial support for Group companies | Netherlands | EUR | — |  | 100 | % | Telefónica, S.A.
Telefónica Global Activities Holding, B.V. Holding Company | Netherlands | EUR | — |  | 100 | % | Telfisa Global, B.V.
Telefónica Global Services, GmbH Purchasing services | Germany | EUR | — |  | 100 | % | Group 3G UMTS Holding, GmbH
Telefónica Global Roaming, GmbH Optimization of network traffic | Germany | EUR | — |  | 100 | % | Telefónica Global Services, GmbH
Group 3G UMTS Holding GmbH Holding Company | Germany | EUR | 250 |  | 100 | % | Telefónica Global Activities Holdings, B.V
QUAM GmbH. IT facilities management activities | Germany | EUR | 250 |  | 100 | % | Group 3G UMTS Holding GmbH
Telefónica Compras Electrónicas, S.L.U. Development and provision of information Society services | Spain | EUR | — |  | 100 | % | Telefónica Global Services, GmbH
Telefonica Iot & Big Data Tech S.A.U. Provision of telemarketing services | Spain | EUR | 1 |  | 100 | % | Telefónica Tech S.L.U.
Geprom Software Engineering S.L.U. Technical engineering services and other consultancy activities | Spain | EUR | — |  | 100 | % | Telefonica Iot & Big Data Tech S.A.U.
Geprom Software Engineering S.A. de C.V. Technical engineering services and other consultancy activities | Mexico | MXN | — |  | 100 | % | Geprom Software Engineering S.L.U.
TIS Hispanoamérica, S.L.U. Security services and systems | Spain | EUR | 1 |  | 100 | % | Telefónica, S.A.
Telefónica Capital, S.A.U. Finance company | Spain | EUR | 7 |  | 100 | % | Telefónica, S.A.
Lotca Servicios Integrales, S.L.U. Aircraft ownership and operation | Spain | EUR | 18 |  | 100 | % | Telefónica, S.A.
Fonditel Pensiones, Entidad Gestora de Fondos de Pensiones, S.A Administration of pension funds | Spain | EUR | 16 |  | 70 | % | Telefónica Capital, S.A.U.
Fonditel Gestión, Soc. Gestora de Instituciones de Inversión Colectiva, S.A.U. Administration and representation of collective investment schemes | Spain | EUR | 2 |  | 100 | % | Telefónica Capital, S.A.U.
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Other companies (cont.) |  |  |  |  |
Telefónica Luxembourg Holding, S.à.r.L. Holding company | Luxembourg | EUR | 3 |  | 100 | % | Telefónica, S.A.
Nova Casiopea RE S.A. Reinsurance | Luxembourg | EUR | 15 |  | 100 | % | Telefónica Luxembourg Holding, S.à.r.L.
Telefónica Seguros y Reaseguros Compañía Aseguradora, S.A.U. Conducting direct insurance business | Spain | EUR | 24 |  | 100 | % | Telefónica Luxembourg Holding, S.à.r.L.
Telefónica Finanzas, S.A.U. Integrated cash management, consulting and financial support for Group companies | Spain | EUR | 3 |  | 100 | % | Telefónica, S.A.
Telefónica Correduría de Seguros y Reaseguros Compañía de Mediación, S.A. Distribution, promotion or preparation of insurance contracts | Spain | EUR | — |  | 100 | % | Telefónica Finanzas, S.A.U. (TELFISA) (83.33%) Telefónica, S.A. (16.67%)
Telefónica Europe, B.V. Fund raising in capital markets | Netherlands | EUR | — |  | 100 | % | Telefónica, S.A.
Telefónica Participaciones, S.A.U. Financial debt instrument issuer | Spain | EUR | — |  | 100 | % | Telefónica, S.A.
Telefónica Emisiones, S.A.U. Financial debt instrument issuer | Spain | EUR | — |  | 100 | % | Telefónica, S.A.
Aliança Atlântica Holding B.V. Holding company | Netherlands | EUR | 40 |  | 88.24 | % | Telefónica, S.A. (50%) Telefônica Brasil, S.A. (38.24%)
Telefónica Serviços Empresariais do BRASIL, Ltda. Management and administrative services rendered | Brazil | BRL | 63 |  | 100 | % | Telefónica Servicios Globales, S.L.U.
Telefónica Gestión Integral de Edificios y Servicios S.L.U. Management and administrative services rendered | Spain | EUR | — |  | 100 | % | Telefónica Servicios Globales, S.L.U.
O2 Worldwide Limited Wireless telecommunications activities | United Kingdom | GBP | — |  | 100 | % | Telefónica, S.A.
Telefónica Servicios Globales, S.L.U. Holding company | Spain | EUR | 1 |  | 100 | % | Telefónica, S.A.
Telefónica Holding Atticus, B.V. Holding company | Netherlands | EUR | — |  | 100 | % | Telefónica Latinoamérica Holding, S.L.U.
Telefónica Soluciones de Criptografía, S.A.U. Engineering, research and development | Spain | EUR | 1 |  | 100 | % | Telefónica, S.A.
Cryptography & Security Systems S.L.U. Software programming activities | Spain | EUR | — |  | 100 | % | Telefónica Soluciones de Criptografía, S.A.U.
Telefónica Centroamérica Inversiones ,S.L. Communications services provider | Spain | EUR | — |  | 60 | % | Telefónica, S.A.
Telefónica Tech S.L.U. Holding company | Spain | EUR | 67 |  | 100 | % | Telefónica, S.A.
Telefónica Cybersecurity & Cloud Tech S.L.U. Cybersecurity, electronic information security and IT consultancy | Spain | EUR | 34 |  | 100 | % | Telefónica Tech S.L.U.
Telefónica Cybersecurity & Cloud Tech Chile SpA. Cybersecurity, electronic information security and IT consulting | Chile | CLP | 20,540 |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Telefónica Tech Inc. Cybersecurity, electronic information security and IT consulting | USA | USD | 7 |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Audertis Audit Services S.L.U. Provision of audit services in the areas of security, privacy and data protection | Spain | EUR | — |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Govertis Advisory Services S.L.U. Cybersecurity, electronic information security and IT consulting | Spain | EUR | — |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Telefonica Tech Colombia, SAS Cybersecurity, electronic information security and IT consulting | Colombia | COP | 406 |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Other companies (cont.) |  |  |  |  |
Telefonica Cybersecurity Tech Mexico, S.A de C.V. Cybersecurity, electronic information security and IT consulting | Mexico | MXN | 80 |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U. (60.47%) Telefonica Iot & Big Data Tech S.A. (39.53%)
Telefônica Cibersegurança e Tecnología do Brasil Ltda Cybersecurity, electronic information security and IT consulting | Brazil | BRL | 26 |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Telefónica Tech Perú S.A.C. Cybersecurity, electronic information security and IT consulting | Peru | PEN | 30 |  | 100 | % | Telefónica Tech S.L.U.
Telefónica Cybersecurity & Cloud Tech Deutschland GmbH Cybersecurity, electronic information security and IT consulting | Germany | EUR | — |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Acens Technologies, S.L.U. Holding housing and telecommunications solutions Service provider | Spain | EUR | 2 |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Altostratus Solutions, S.L.U. Provision of IT services | Spain | EUR | — |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Telefónica Tech UK & Ireland, Limited Holding company | United Kingdom | GBP | 14 |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
Telefónica Tech UK Holdings Limited Holding company | United Kingdom | GBP | — |  | 100 | % | Telefónica Tech UK & Ireland, Limited
Telefónica Tech UK TOG Limited Headquarters activities | United Kingdom | GBP | — |  | 100 | % | Telefónica Tech UK Holdings Limited
Telefónica Tech UK Managed Services Limited Information technology, management and IT services consultancy | United Kingdom | GBP | — |  | 100 | % | Telefónica Tech UK TOG Limited
Telefónica Tech UK Limited Information technology, management and IT services consultancy | United Kingdom | GBP | — |  | 100 | % | Telefónica Tech UK TOG Limited
Telefónica Tech Northern Ireland Holdings Limited Other computer service activities | United Kingdom | GBP | — |  | 100 | % | Telefónica Tech UK & Ireland, Limited
Telefónica Tech Communication & Collaboration Limited Other computer service activities | United Kingdom | GBP | — |  | 100 | % | Telefónica Tech Northern Ireland Holdings Limited
Telefónica Tech Northern Ireland Limited Other computer service activities | United Kingdom | GBP | — |  | 100 | % | Telefónica Tech Northern Ireland Holdings Limited
Telefónica Tech Ireland Limited Provision of IT services | Ireland | EUR | — |  | 100 | % | Telefónica Tech Northern Ireland Holdings Limited
Telefónica Tech Ocean Limited Holding company | United Kingdom | GBP | — |  | 100 | % | Telefónica Tech UK & Ireland, Limited.
Perpetual Topco Limited Holding company | United Kingdom | GBP | 4 |  | 100 | % | Telefónica Tech UK & Ireland Limited
Perpetual Midco Limited Holding company | United Kingdom | GBP | 4 |  | 100 | % | Perpetual Topco Limited
Perpetual Bidco Limited Holding company | United Kingdom | GBP | 3 |  | 100 | % | Perpetual Midco Limited
Incremental Group Holdings Limited Holding company | United Kingdom | GBP | 1 |  | 100 | % | Perpetual Bidco Limited
Redspire Limited Software development and information technology consultancy activities | United Kingdom | GBP | — |  | 100 | % | Incremental Group Holdings Limited
Telefónica Tech UK Business Applications Limited Information technology consultancy activities and other services | United Kingdom | GBP | — |  | 100 | % | Incremental Group Holdings Limited
Adatis Group Limited Holding company | United Kingdom | GBP | — |  | 100 | % | Incremental Group Holdings Limited
Telefónica Tech UK Data & AI Limited Information technology consultancy activities | United Kingdom | GBP | — |  | 100 | % | Adatis Group Limited
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Other companies (cont.) |  |  |  |  |
Telefónica Tech Bulgaria Limited Information technology consultancy activities | Bulgaria | BGN | — |  | 100 | % | Telefónica Tech UK Data & AI Limited
Telefónica Tech India Private Limited Information technology consultancy activities | India | INR | — |  | 100 | % | Telefónica Tech UK & Ireland, Limited (99.99%) Telefónica Tech UK Limited (0.01%)
Telefónica Tech UK Data & AI MS Limited Information technology consultancy activities | United Kingdom | GBP | — |  | 100 | % | Adatis Group Limited
BE-terna Enhancement GmbH Holding company and provision of marketing, consultancy, implementation and commercialisation services for software and IT technologies | Germany | EUR | — |  | 100 | % | Telefónica Cybersecurity & Cloud Tech S.L.U.
BE-terna Germany GmbH Holding company | Germany | EUR | — |  | 100 | % | BE-terna Enhancement GmbH
BE-terna AB (Sweden) Technology services | Sweden | SEK | — |  | 100 | % | BE-terna Enhancement GmbH
BE-terna Automation AG Technology services | Switzerland | CHF | — |  | 100 | % | BE-terna Enhancement GmbH
BE-terna ApS Computer programming activities | Denmark | DKK | — |  | 100 | % | BE-terna Enhancement GmbH
BE-terna B.V. (Netherlands) Technology services | Netherlands | EUR | — |  | 100 | % | BE-terna ApS
BE-terna GmbH (Leipzig) Software production, electronic data processing, consultancy, services and project management | Germany | EUR | — |  | 100 | % | BE-terna Germany GmbH
BE-terna Austria GmbH Holding company | Austria | EUR | — |  | 100 | % | BE-terna Enhancement GmbH
BE-terna GmbH (Innsbruck) Services in automatic data processing and information technology | Austria | EUR | — |  | 100 | % | BE-terna Austria GmbH
Pipol A/S Conduct business with international implementation of business-oriented software solutions | Denmark | DKK | 1 |  | 100 | % | BE-terna Enhancement GmbH
BE-terna A/S (Norway) Computer programming activities | Norway | NOK | — |  | 100 | % | BE-terna Enhancement GmbH
BE-terna Business Solutions GmbH Software development and consulting, distribution of corresponding products, systems and processes | Germany | EUR | — |  | 100 | % | BE-terna GmbH (Innsbruck)
BE-terna Industry Solutions GmbH Sales, implementation and maintenance of international ERP products | Germany | EUR | — |  | 100 | % | BE-terna GmbH (Innsbruck)
BE-terna AG (Switzerland) Service provision, analysis and optimisation of business processes, selection of business software and implementation of ERP solutions | Switzerland | CHF | — |  | 100 | % | BE-terna GmbH (Innsbruck)
BE-terna SRL Services in automatic data processing and information technology | Italy | EUR | — |  | 100 | % | BE-terna GmbH (Innsbruck)
BE-terna Adriatic d.o.o Holding company | Slovenia | EUR | — |  | 100 | % | BE-terna Austria GmbH
BE-terna d.o.o. (Serbia) Technology services | Serbia | RSD | 14 |  | 100 | % | BE-terna Adriatic d.o.o
BE-terna d.o.o (Slovenia) Technology services | Slovenia | EUR | — |  | 100 | % | BE-terna Adriatic d.o.o
BE-terna d.o.o (Croatia) Technology services | Croatia | EUR | 2 |  | 100 | % | BE-terna Adriatic d.o.o
Telxius Telecom, S.A. Telecommunications service provider | Spain | EUR | 260 |  | 70 | % | Telefónica, S.A.
Telxius Cable América, S.A. Provision of high bandwidth communications services | Uruguay | USD | 291 |  | 70 | % | Telxius Telecom, S.A.
Telxius Cable España, S.L.U. Establishment and operation of any kind of communications infrastructure and/or network | Spain | EUR | 5 |  | 70 | % | Telxius Telecom, S.A.
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Other companies (cont.) |  |  |  |  |
Telxius Cable República Dominicana, S.A.S. Telecommunications service provider | Dominican Republic | USD | 6 |  | 70 | % | Telxius Cable América, S.A. (69.30%) Telxius Cable España, S.L.U. (0.70%)
Telxius Cable Argentina, S.A. Operation and deployment of telecommunications infraestructure | Argentina | USD | 78 |  | 70 | % | Telxius Cable América, S.A. (66.50%) Telxius Cable España, S.L.U. (3.50%)
Telxius Cable Panamá, S.A. Installation and operation of telecommunications networks for wholesalers | Panama | USD | 10 |  | 70 | % | Telxius Cable América, S.A.
Telxius Cable Puerto Rico, Inc. High capacity optical fibre network communications services | Puerto Rico | USD | 14 |  | 70 | % | Telxius Cable América, S.A.
Telxius Cable USA, Inc. High bandwidth communications services | USA | USD | 58 |  | 70 | % | Telxius Telecom, S.A.
Telxius Cable Ecuador, S.A. Sale of usage of data transmission capacity via an underwater optical fibre network | Ecuador | USD | 5 |  | 70 | % | Telxius Cable América, S.A.
Telxius Cable Chile, S.A. Involvement in businesses related to public or private telecommunications services | Chile | USD | 26 |  | 70 | % | Telxius Cable América, S.A.
Other companies (cont.) |  |  |  |  |
Telxius Cable Guatemala, S.A. Installation and operation of telecommunications networks for wholesalers | Guatemala | USD | 20 |  | 70 | % | Telxius Cable América, S.A.
Telxius Cable Perú, S.A.C. Involvement in the operation and deployment of international telecommunications services via underwater cables and others means | Peru | USD | 20 |  | 70 | % | Telxius Cable América, S.A.
Telxius Cable Colombia, S.A. Supply of data transmission capacity via underwater cable system | Colombia | USD | 4 |  | 70 | % | Telxius Cable América, S.A. (66.49%) Telxius Cable Chile, S.A. (1.17%) Telxius Cable Perú, S.A.C. (1.17%) Telxius Cable Guatemala, S.A. (1.16%) Telxius Cable Argentina, S.A. (0.01%)
Telxius Cable Brasil Participaçoes, Ltda. Holding company | Brazil | USD | 62 |  | 70 | % | Telxius Cable América, S.A.
Telxius Cable Brasil, Ltda. Operation and deployment of telecommunications infrastructures | Brazil | USD | 74 |  | 70 | % | Telxius Cable Brasil Participaçoes, Ltda.
Telxius Cable Bolivia, S.A. Establishment and operation of any kind of communications infrastructure and/or network | Bolivia | USD | 2 |  | 70 | % | Telxius Cable América, S.A. (68.9%) Telxius Cable España, S.L.U. (0.55%) Telxius Cable Argentina, S.A. (0.55%)
Telxius México, S.R.L. DE C.V Establishment and operation of any kind of communications infrastructure and/or network | Mexico | USD | — |  | 70 | % | Telxius Cable América, S.A. (69.98%) Telxius Cable España, S.L.U. (0.02%)
Telefónica Local Services GmbH Holding company | Germany | EUR | — |  | 100 | % | Telefónica, S.A.
Companies accounted for using the equity method |  |  |  |  |
VMED O2 UK Limited Integrated provider of fixed and mobile services | United Kingdom | GBP | — |  | 50 | % | Telefónica O2 Holdings Limited
FiBrasil Infraestrutura e Fibra Ótica S.A. Fibre wholesale supplier | Brazil | BRL | 189 |  | 44.12 | % | Telefônica Brasil, S.A. (19.12%) Telefónica Infra S.L.U. (25%)
VivaE Educação Digital S.A. Training for professional and management development | Brazil | BRL | 33 |  | 38.24 | % | Telefônica Brasil, S.A.
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Companies accounted for using the equity method (cont.) |  |  |  |  |
Gud Comercializadora de Energia S.A. Energy trading company | Brazil | BRL | 21 |  | 38.24 | % | Telefônica Brasil, S.A.
HoldCo InfraCo SpA Investment in money and/or securities | Chile | CLP | 135,534 |  | 39.76 | % | Telefónica Chile, S.A.
Infraco SpA. Operation of physical fibre optic infrastructure | Chile | CLP | 246,002 |  | 39.76 | % | HoldCo InfraCo SpA
Telefónica Factoring España, S.A. Factoring services provider | Spain | EUR | 5 |  | 50 | % | Telefónica, S.A.
Telefónica Factoring Do Brasil, Ltda. Factoring services provider | Brazil | BRL | 5 |  | 50 | % | Telefónica, S.A. (40%) Telefónica Factoring España, S.A. (10%)
Telefónica Factoring Mexico, S.A. de C.V. SOFOM ENR Factoring services provider | Mexico | MXN | — |  | 50 | % | Telefónica, S.A. (40.50%) Telefónica Factoring España, S.A. (9.50%)
Telefónica Factoring Perú, S.A.C. Factoring services provider | Peru | PEN | 6 |  | 50 | % | Telefónica, S.A. (40.50%) Telefónica Factoring España, S.A. (9.50%)
Telefónica Factoring Colombia, S.A. Factoring services provider | Colombia | COP | 4,000 |  | 50 | % | Telefónica, S.A. (40.50%) Telefónica Factoring España, S.A. (9.50%)
Telefónica Factoring Chile, SpA. Factoring services provider | Chile | CLP | 547 |  | 50 | % | Telefónica Factoring España, S.A.
Telefónica Consumer Finance, Establecimiento Financiero de Crédito, S.A. Specialised credit institution | Spain | EUR | 5 |  | 50 | % | Telefónica, S.A.
Movistar Consumer Finance Colombia SAS. Specialised credit institution | Colombia | COP | 6,000 |  | 50 | % | Telefónica Innovación Digital, S.L.U.
Alamo Holdco S.L. Holding company | Spain | EUR | — |  | 27 | % | Colombia Telecomunicaciones S.A. ESP BIC
ONNET Fibra Colombia S.A.S. Fibre wholesale supplier | Colombia | COP | 56,307 |  | 27 | % | Alamo Holdco S.L.
Internet para todos S.A.C Telecommunications service provider | Peru | PEN | 364 |  | 54.30 | % | Telefónica del Perú, S.A.A.
Movistar Prosegur Alarmas, S.L. Private security services | Spain | EUR | — |  | 50 | % | Telefónica España Filiales, S.A.U.
Prosegur Soluciones S.A.U. Private security services | Spain | EUR | — |  | 50 | % | Movistar Prosegur Alarmas, S.L.
Buendía Estudios, S.L. Service provision related to film and video production activities | Spain | EUR | — |  | 50 | % | Telefónica Audiovisual Digital, S.L.U.
Buendía Estudios Uno, S.L.U. Service provision related to film and video production activities | Spain | EUR | — |  | 50 | % | Buendía Estudios, S.L.
Buendía Estudios Dos, S.L.U. Service provision related to film and video production activities | Spain | EUR | — |  | 50 | % | Buendía Estudios, S.L.
Buendía Estudios Canarias, S.L.U Service provision related to film and video production activities | Spain | EUR | — |  | 50 | % | Buendía Estudios, S.L.
Buendía Estudios Bizkaia, S.L.U. Service provision related to film and video production activities | Spain | EUR | — |  | 50 | % | Buendía Estudios, S.L.
Solar360 de Repsol y Movistar S.L. Development and marketing of photovoltaic self-consumption products and/or services | Spain | EUR | — |  | 50 | % | Telefónica de España, S.A.U.
UGG TopCo/HoldCo General Partner GmbH. Holding company | Germany | EUR | — |  | 49.68 | % | Telefónica Infra Germany GmbH. (40%) Telefónica Germany 1. Beteiligungsgesellschaft mbH. (9.68%)
UGG TopCo GmbH & Co KG Holding company | Germany | EUR | — |  | 49.68 | % | Telefónica Infra Germany GmbH. (40%) Telefónica Germany 1. Beteiligungsgesellschaft mbH. (9.68%)
Name and corporate purpose | Country | Currency | Capital | %Telefónica Group | Holding Company
Companies accounted for using the equity method (cont.) |  |  |  |  |
UGG HoldCo GmbH& Co KG Holding company | Germany | EUR | — |  | 49.68 | % | UGG TopCo GmbH & Co KG
UGG General Partner GmbH Holding company | Germany | EUR | — |  | 49.68 | % | UGG HoldCo GmbH& Co KG
Unsere Grüne Glasfaser GmbH & Co KG Broadband telecommunications operator | Germany | EUR | — |  | 49.68 | % | UGG HoldCo GmbH& Co KG
Infrafibre Germany GmbH B2B technology industry | Germany | EUR | 2 |  | 49.68 | % | Unsere Grüne Glasfaser GmbH & Co KG
Daytona Midco S.L. Securities transactions | Spain | EUR | — |  | 20 | % | Telefónica Infra, S.L.U.
Digital Data Centre BidCo, SLU. Management and administration of equity securities | Spain | EUR | 4 |  | 20 | % | Daytona Midco S.L.
Telefónica Renting, S.A. Purchase, sale and leasing of all kinds of movable property and provision of services ancillary to the leasing thereof | Spain | EUR | 1 |  | 50 | % | Telefónica, S.A.
Opal Holdco Limited Holding company | United Kingdom | GBP | 2 |  | 50 | % | Telefónica Infra, S.L.U.
Opal Jvco Limited Holding company | United Kingdom | GBP | 4 |  | 25 | % | Opal Holdco Limited
Utiq, S.A. Technology solutions for digital advertising | Belgium | EUR | 22 |  | 25 | % | Telefónica Innovación Digital, S.L.U.
Main changes in the scope of consolidation for the year 2024 Acquisition of new companies
Companies/Segment/Subsidiaries | Country | Date of inclusion | % Acquisition
Telefónica Brazil |  |  |
IPNET Serviços em Nuvem e Desenvolvimento de Sistemas Ltda Software and systems resale, professional services and project management | Brazil | 06/30/2024 | 88.24 | %
IPNET USA, LLC Software and systems resale, professional services and project management | USA | 06/30/2024 | 88.24 | %
Companies accounted for using the equity method |  |  |
Infrafibre Germany GmbH B2B technology industry | Germany | 12/31/2024 | 49.68 | %
Incorporation of companies
Companies/Segment/Subsidiaries | Country | Date of incorporation | % Acquisition
Telefónica Spain |  |  |
Compañía Mayorista de Fibra S.L. Provision of telecommunications services through FTTH network operation | Spain | 10/31/2024 | 100 | %
Telefónica Hispam |  |  |
Unired Colombia S.A.S Service provider related to telecommunications | Colombia | 08/31/2024 | 33.75 | %
Companies accounted for using the equity method |  |  |
Gud Comercializadora de Energia S.A. Energy trading company | Brazil | 02/29/2024 | 38.24 | %
Merged companies
Companies/Segment/Subsidiaries | Country | Date | Surviving company
Telefónica Hispam |  |  |
Telefónica de Argentina, S.A. Telecommunications service provider | Argentina | 03/31/2024 | Telefónica Móviles Argentina, S.A.
Other companies |  |  |
BE-terna Acceleration GmbH Holding company | Germany | 08/31/2024 | BE-terna Enhancement GmbH (before BE-terna Acceleration Holding GmbH)
BE-terna Enhancement GmbH Holding company | Germany | 08/31/2024 | BE-terna Enhancement GmbH (before BE-terna Acceleration Holding GmbH)
Liquidated companies
Companies/Segment/Subsidiaries | Country | Deconsolidation date | % Shareholding
Telefónica Spain |  |  |
TBSC Barcelona Producciones, S.L.U. Provision of audiovisual telecommunications services | Spain | 12/31/2024 | 100 | %
Other companies |  |  |
O2 International Holdings Ltd. Holding company | United Kingdom | 07/31/2024 | 100 | %
Terra Networks Perú, S.A. ISP and portal | Peru | 10/31/2024 | 100 | %
Companies accounted for using the equity method |  |  |
Mobile Financial Services Holding SPRL Financial services | Belgium | 06/30/2024 | 50 | %
Divestment companies
Companies/Segment/Subsidiaries | Country | Deconsolidation date | % Sold
Companies accounted for using the equity method |  |  |
Cornerstone Telecommunications Infrastructure Limited Mobile phone towers | United Kingdom | 12/31/2024 | 4.17 | %
Main changes in the scope of consolidation for the year 2023 Acquisition of new companies
Companies/Segment/Subsidiaries | Country | Date of inclusion | % Acquisition
Telefónica Brazil |  |  |
Vale Saúde, Administradora de Cartões Ltda. Provision of health services | Brazil | 03/31/2023 | 75.29 | %
Other companies |  |  |
Telxius Telecom, S.A. Telecommunications service provider | Spain | 01/31/2023 | 40 | %
Cryptography & Security Systems S.L.U. Software programming activities | Spain | 01/31/2023 | 100 | %
Telefónica Local Services GmbH Holding company | Germany | 10/31/2023 | 100 | %
Incorporation of companies
Companies/Segment/Subsidiaries | Country | Date of incorporation | % Acquisition
Other companies |  |  |
BE-terna SRL Services in automatic data processing and information technology | Italy | 04/30/2023 | 100 | %
Telxius México, S.R.L. DE C.V Establishment and operation of any kind of communications infrastructure and/or network | Mexico | 11/30/2023 | 70 | %
Companies accounted for using the equity method |  |  |
Utiq, S.A. Technology solutions for digital advertising | Belgium | 03/31/2023 | 25 | %
Merged companies
Companies/Segment/Subsidiaries | Country | Date | Surviving company
Telefónica Brazil |  |  |
Garliava RJ Infraestrutura e Redes de Telecomunicacoes S.A. Wireline telephony operator | Brazil | 02/28/2023 | Telefônica Brasil, S.A.
Vita IT Comércio e Serviços de Soluções em TI Ltda. Technical support, maintenance and other IT services | Brazil | 11/30/2023 | Telefônica Infraestructura e Segurança Ltda.
Other companies |  |  |
Pontel Participaciones, S.L. Holding company | Spain | 03/31/2023 | Telxius Telecom, S.A.
Tempotel, Empresa de Trabajo Temporal, S.A.U. Temporary employment agency | Spain | 10/31/2023 | Telefónica Gestión Integral de Edificios y Servicios S.L.U.
Telefónica Investigación y Desarrollo, S.A.U. Telecommunications research activities and projects | Spain | 10/31/2023 | Telefónica Innovación Digital, S.L.U.
Companies accounted for using the equity method |  |  |
Buendía Producción, S.L. Service provision related to film and video production activities | Spain | 10/31/2023 | Buendía Estudios, S.L.
Divestment companies
Companies/Segment/Subsidiaries | Country | Deconsolidation date | % Sold
Other companies |  |  |
Pontel Participaciones, S.L. Holding company | Spain | 01/31/2023 | 13.35 | %
Companies accounted for using the equity method |  |  |
The Smart Steps Data Technology Company Big data services in China | China | 05/31/2023 | 33.75 | %
Cornerstone Telecommunications Infrastructure Limited Mobile phone towers | United Kingdom | 11/30/2023 | 8.33 | %
Liquidated companies
Companies/Segment/Subsidiaries | Country | Deconsolidation date | % Shareholding
Other companies |  |  |
Kumo Analytics Limited Information technology consultancy activities | United Kingdom | 01/31/2023 | 100 | %
iHackLabs Ltd. Cybersecurity, electronic information security and IT consulting | United Kingdom | 09/30/2023 | 100 | %
O2 (Netherlands ) Holdings BV. Holding company | Netherlands | 11/30/2023 | 100 | %
Telfin Ireland DAC. Intragroup financing | Ireland | 11/30/2023 | 100 | %

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