Editing Telefónica (section)

=== Italy ===
{{Main|Telecom Italia}}
Telefónica currently owns 46% of Telco, the holding company that controls 22% of [[Telecom Italia]], Italy's former government–owned telephone company. In late 2003, Telefónica announced its intention to acquire the entirety of Telco by January 2014, potentially becoming Telecom Italia's largest shareholder. The plan, was however challenged by the Brazilian competition authority since Telefónica and Telecom Italia, with [[Vivo (telecommunications)|Vivo]] and [[TIM Brasil]] respectively, are the two largest telephone companies competing in Brazil. Subsequently, Telefónica confirmed in September 2014 that it intended to sell its shares in Telecom Italia following the purchase of [[Global Village Telecom]] (GVT) in Brazil from [[Vivendi]].<ref>{{cite news |last=González |first=Andrés |date=1 September 2014 |title=Telefonica to exit Telecom Italia after Brazil deal |url=http://uk.reuters.com/article/uk-telefonica-m-a-telecom-ita-idUKKBN0GW23D20140901 |archive-url=https://web.archive.org/web/20160305143008/http://uk.reuters.com/article/uk-telefonica-m-a-telecom-ita-idUKKBN0GW23D20140901 |url-status=dead |archive-date=5 March 2016 |work=Reuters |access-date=8 December 2014}}</ref> Telefónica sold its shares in the business to Vivendi as part of the sale of GVT in June 2015.<ref>{{cite news|last1=O'Leary|first1=Elisabeth|title=Telefonica sells Telecom Italia stake to Vivendi, makes 380 mln euro gain|url=https://www.reuters.com/article/telecomitalia-telefonica-vivendi-idUSS8N0Y500C20150624|access-date=15 November 2016|work=Reuters|date=24 June 2015}}</ref>