<SEC-DOCUMENT>0001292814-15-001735.txt : 20150721
<SEC-HEADER>0001292814-15-001735.hdr.sgml : 20150721
<ACCEPTANCE-DATETIME>20150720183145
ACCESSION NUMBER:		0001292814-15-001735
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150930
FILED AS OF DATE:		20150721
DATE AS OF CHANGE:		20150720

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELEFONICA BRASIL S.A.
		CENTRAL INDEX KEY:			0001066119
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14475
		FILM NUMBER:		15996642

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA ENGENHEIRO LUIS CARLOS BERRINI,
		STREET 2:		1376, CIDADE MONCOES
		CITY:			SAO PAULO-SP
		STATE:			D5
		ZIP:			04571-936
		BUSINESS PHONE:		55 11 3430-3687

	MAIL ADDRESS:	
		STREET 1:		AVENIDA ENGENHEIRO LUIS CARLOS BERRINI,
		STREET 2:		1376, CIDADE MONCOES
		CITY:			SAO PAULO-SP
		STATE:			D5
		ZIP:			04571-936

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELESP HOLDING CO
		DATE OF NAME CHANGE:	20051028

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELESP PARTICIPACOES SA
		DATE OF NAME CHANGE:	19980716
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>vivo20150720_6k1.htm
<DESCRIPTION>MINUTES OF THE 276TH MEETING OF THE BOARD OF DIRECTORS OF TELEFONICA BRASIL S.A.
<TEXT>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 16pt" face="Times New Roman">UNITED STATES<BR></FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 16pt" face="Times New Roman">SECURITIES AND EXCHANGE COMMISSION<BR></FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 16pt" face="Times New Roman">Washington, D.C. 20549<BR></FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 18pt" face="Times New Roman">FORM 6-K</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" face="Times New Roman">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For the month of July, 2015</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Commission File Number: 001-14475</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face="Times New Roman"><B><FONT lang=EN-CA style="FONT-SIZE: 20pt">TELEF&#212;NICA BRASIL S.A. <BR></FONT></B></FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter) </FONT></B></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 20pt">TELEFONICA BRAZIL S.A.</FONT></B></FONT><FONT face="Times New Roman"><FONT lang=PT-BR style="FONT-SIZE: 20pt">&nbsp;&nbsp;<BR></FONT></FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt">(Translation of registrant&#8217;s name into English)</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face="Times New Roman"><FONT face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 12pt">Av. Eng&#176; Lu&#237;s Carlos Berrini, 1376 -&nbsp; 28&#186; andar<BR></FONT></B></FONT></FONT><FONT face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 12pt">S&#227;o Paulo, S.P. <BR></FONT></B></FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt">Federative Republic of Brazil<BR></FONT></B></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt">(Address of principal executive office)</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Form 40-F</FONT></P></TD>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): </FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt" align=justify><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): </FONT></P></DIV>

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<H1 style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT><B><FONT style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>
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<H1 style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT><B><FONT style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>TELEF&#212;NICA BRASIL S.A.</FONT></B></FONT></H1>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Publicly-held Company</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>CNPJ/MF 02.558.157/0001-62 - NIRE 35.3.0015881-4</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: normal; TEXT-INDENT: 0in"><FONT><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>MINUTES OF THE 276th MEETING OF THE BOARD OF DIRECTORS OF </FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: normal; TEXT-INDENT: 0in"><FONT><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>TELEF&#212;NICA BRASIL S.A. </FONT></B></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.85pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>1. DATE, TIME AND PLACE: </FONT></B></FONT><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>July 20<SUP>th</SUP>, 2015, at 9 a.m., </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=arial,sans-serif>at Telef&#244;nica Brasil S.A. (&#8220;Company&#8221;) headquarters, located at Av. Eng. </FONT></FONT><FONT style="LINE-HEIGHT: 140%" color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" color=black face=arial,sans-serif>Luiz Carlos Berrini, 1376, Cidade Mon&#231;&#245;es, capital of the State of S&#227;o Paulo.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.85pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<H3 style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 140%"><B><FONT style="FONT-SIZE: 11pt" face=arial,sans-serif>2. PRESIDING BOARD: </FONT></B><FONT style="FONT-SIZE: 11pt; FONT-WEIGHT: normal" face=arial,sans-serif>Antonio Carlos Valente da Silva, Chairman of the Board of Directors and Breno Rodrigo Pacheco de Oliveira, Secretary of the Board of Directors.</FONT></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.85pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>3. ATTENDANCE: </FONT></B></FONT><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>The meeting was attended by the Directors that sign this minute, according to the article 19, paragraph 4 of the Bylaws, representing a quorum required for installation and deliberation.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.85pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>4. RESOLUTIONS:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.85pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>4.1. DISTRIBUTION OF INTERIM DIVIDENDS: </FONT></B></FONT><FONT style="LINE-HEIGHT: 140%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>The Board of Directors approved, by unanimous decision, the proposal of distribution of Interest on Own Capital to the Company&#8217;s shareholders, in the amount of R$221,000,000.00 (two hundred twenty-one million reais), corresponding to a value of R$0.122734955402 per common share and R$0.135008450942 per preferred share, corresponding to a net value, after deducting the Withholding Income tax, of R$187,850,000.00 (one hundred and eighty-seven million, eight hundred and fifty thousand reais), corresponding to a net value of R$0.104324712092 per common share and R$0.114757183301 per preferred share, based on the net profit accounted in the balance sheet of May 31<SUP>st</SUP>, 2015, which are imputed to the minimum mandatory dividend of the fiscal year 2015 </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>ad referendum</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif> of the General Shareholders Meeting. The payment of such Interest on Own Capital will be carried out until the end of 2015 in a date to be defined by the Company&#180;s Board. The Interest on Own Capital shall be credited to shareholders, in accordance to the shareholder registry book position by the end of the day, on July 31<SUP>st</SUP>, 2015, including. After this date, Company&#8217;s share will be considered &#8220;ex-Interest on Own Capital&#8221;.</FONT></FONT></P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 2.85pt; LINE-HEIGHT: 115%"><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0.25in 0pt 0in" align=right><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B></FONT></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0in 0.25in 0pt 0in" align=right><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Minutes of the </FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>276<SUP>th</SUP> </FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>MBD of 07.20.15 Page <FONT style="FONT-SIZE: 10pt" face=Arial>1</FONT></FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>/</FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2</FONT></B></FONT></FONT></B></P>

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<H1 style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt"><FONT><B><FONT style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>TELEF&#212;NICA BRASIL S.A.</FONT></B></FONT></H1>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Publicly-held Company</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>CNPJ/MF 02.558.157/0001-62 - NIRE 35.3.0015881-4</FONT></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: normal; TEXT-INDENT: 0in"><FONT><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>MINUTES OF THE 276th MEETING OF THE BOARD OF DIRECTORS OF </FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 2.85pt 0pt 0in; LINE-HEIGHT: normal; TEXT-INDENT: 0in"><FONT><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>TELEF&#212;NICA BRASIL S.A. </FONT></B></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>Since there was no other business to be transacted, the meeting was closed and these minutes were drawn-up by the Secretary of the Board of Directors, which were approved and signed by the Directors present to the meeting, being following transcribed in the proper book. </FONT></FONT><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=arial,sans-serif>S&#227;o Paulo, July 20</FONT></FONT><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=arial,sans-serif><SUP>th</SUP></FONT></FONT><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=arial,sans-serif>, 2015. (aa) Antonio Carlos Valente da Silva &#8211; Chairman of the Board of Directors; Santiago Fern&#225;ndez Valbuena &#8211; Vice-President of the Board of Directors; Amos Genish; Antonio Gon&#231;alves de Oliveira; Eduardo Navarro de Carvalho; Francisco Javier de Paz Mancho; Jos&#233; Fernando de Almansa Moreno-Barreda; Luciano Carvalho Ventura; Luis Javier Bastida Ibarguen; Luiz Fernando Furlan; Narc&#237;s Serra Serra e Roberto Oliveira de Lima. </FONT></FONT><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>Secretary of the Board of Directors: Breno Rodrigo Pacheco de Oliveira.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 140%"><FONT style="LINE-HEIGHT: 140%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>I hereby certify that this is a faithful copy of the minutes of the 276<SUP>th</SUP> meeting of the Board of Directors of Telef&#244;nica Brasil S.A., held on July 20<SUP>th</SUP>, 2015, which was drawn-up in the proper book.</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt; LINE-HEIGHT: 115%" align=center><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>Breno Rodrigo Pacheco de Oliveira</FONT></B></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0.25in 0pt 0in" align=right><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Continuation of Minutes of the </FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>276<SUP>th</SUP> </FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>MBD of 07.20.15 Page </FONT></B><FONT style="DISPLAY: none"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B></FONT></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2</FONT></B></FONT></FONT></B><B><FONT><FONT style="DISPLAY: none"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=arial,sans-serif></FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>/</FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>2</FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt; TEXT-INDENT: 18pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

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   <P style="MARGIN: 0cm 0cm 20pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">TELEF&#212;NICA BRASIL S.A.</FONT></B></P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Date:</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">July 20, 2015</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">/s/ </FONT>Luis Carlos da Costa Plaster</P></TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Name:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="37%">Luis Carlos da Costa Plaster</TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Title:</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Investor Relations Director</FONT></P></TD></TR></TABLE></DIV>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
