Vodafone Spain is a subsidiary of Vodafone Group plc, a British multinational telecommunications company, and operates as a telecommunications network in Spain. The company was initially launched in 1985 as Racal-Vodafone (Holdings) Ltd, a joint venture between Racal Electronics and Millicom. Vodafone became a fully owned brand of Racal in 1986. In 1991, Racal Telecom was demerged from Racal Electronics and became the Vodafone Group.
Vodafone Group has undergone several changes in its corporate structure and ownership since its inception. In 1999, it completed the purchase of American service provider AirTouch Communications and changed its name to Vodafone Airtouch plc. Later, it reverted back to its original name, Vodafone Group plc, in 2000. The company's largest single shareholder is Etisalat by e&, which owns 14% of Vodafone's shares and has expressed interest in increasing its stake to 20%.