Telecomunica es de Sao Paulo S.A. or Telesp is the Brazilian subsidiary of Spanish Telefonica (TEF) focused on wireline communications in the State of Sao Paulo, the most important economic region in Brazil. The company has over 12 million subscribers and is the biggest wireline operator of TEF outside Spain. The company also provides local, intra/inter-regional, international long distance services, and custom data transmission services. Telesp was acquired by TEF during the Brazilian privatization program in 1998. Since then, Telesp reached a digitalization index of 100% from 73% in 1998 and was able to launch new products, like the broadband operator called speedy, using ADSL technology. Currently, Telesp is the leader of the ADSL broadband business in Brazil with over 1.9 million customers. Recently, Telesp has been investing in the PayTV segment through an agreement with a local company called Abril Comunicacoes, in order to diversify its activities and find some growth potential, since the wireline market in the State of Sao Paulo is already stagnated.