On 24 January 2011, the Commission opened an investigation into whether Telefónica (Spain) and Portugal Telecom had entered into an agreement not to compete on the Iberian telecoms market between September 2010 and December 2011. The investigation focuses on an alleged agreement entered into in when Telefónica acquired full control of the Brazilian mobile phone operator, Vivo over which earlier, the two companies had exercised joint control. The investigation will also explore whether any non-compete agreement existed before the Vivo deal. The parties notified to the Commission a cooperation agreement entered into by the companies in 1997 in relation to markets outside the EU. The Commission now seeks to ascertain whether the co-operation adversely affected EU markets. This investigation is at an early stage and the competition authorities have not made any finding of infringement to date.