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
O2 Czech Republic different lines of business: the retail operator O2 and the wholesale infrastructure provider CETIN. The separation includes commercial and managerial leadership and management of both companies, including security, IT and control systems. The company was initially known as SPT Telecom ("Státní telekomunikační podnik", state-owned telecommunications company), and used to have a monopoly for providing fixed-line services. It was reorganized and renamed Český Telecom (Czech Telecom), after the Velvet Divorce saw Czechoslovakia separate into the Czech Republic and Slovakia in 1993. Its mobile subsidiary, Eurotel, was founded in 1990 as a joint venture between SPT (51%) and the American joint-venture Atlantic