O2 (UK) in Germany were brought under the control of O2, which retained its UK-registered public company status with its own board of directors and corporate structures and processes. Telefónica chose to keep its existing mobile phone operations in the rest of the world under the brand Movistar. This name is used in Spain and in most of the Latin American countries, operated by a separate management team. On 15 July 2009, O2 entered the financial services industry with the launch of O2 Money, which was the first step in the process of incorporating financial services into mobile phones. Future plans included
Legal monopoly sometimes call the system a legal monopoly anyway. The creation of Sirius XM Radio by merger left the United States with only one licensed satellite radio broadcasting company. However, the United States Department of Justice decided that this was not harmful to competition, due to the presence of terrestrial broadcasters. Legal monopoly A legal monopoly, statutory monopoly, or "de jure" monopoly is a monopoly that is protected by law from competition. A statutory monopoly may take the form of a government monopoly where the state owns the particular means of production or government-granted monopoly where a private interest is protected