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
State monopoly capitalism between the state and big business postulated earlier was not so tight that it could not be undone by a mass movement from below, under the leadership of the Communist Party (or its central committee). When Varga introduced the theory, orthodox Stalinist economists attacked it as incompatible with the doctrine that state planning was a feature only of socialism, and that "under capitalism anarchy of production reigns." Critics of the theory (e.g., Ernest Mandel and Leo Kofler) claimed that: State monopoly capitalism The theory of state monopoly capitalism (also referred as stamocap) was initially a Marxist doctrine popularised after World