Avatel and Parlem negotiate integration in Catalonia

Avatel, the telecommunications group that has grown rapidly by acquiring hundreds of local operators, is negotiating a merger of its activities in Catalonia with Parlem, the Catalan-based virtual mobile operator, although the latter would remain an independent company.

Avatel , the telecommunications company that has grown by acquiring a large number of local operators, and the Catalan operator Parlem are exploring a merger of their businesses in Catalonia. Discussions regarding this merger are based on the idea that Parlem will remain an independent, autonomous company, but will take advantage of the synergies that would be created by the merger.

One of the most important is the fact that the wholesale contract used by Avatel is more advantageous than that of Parlem , given its much larger size. Therefore, integrating the businesses under this new contract would generate better margins for the new Parlem from the outset, with Avatel 's Catalan assets included. There would also be numerous synergies in the retail channel and in the use of Avatel's fiber optic networks in the region.

Avatel has several companies in Catalonia as a result of acquisitions in recent years, including Fibracat, the largest, but also companies such as Girona Fibra, Cadí Telecom, Fibertossa, and Inforcelrá.

Parlem achieved revenue of €49.7 million in 2024, representing a 9.5% increase compared to the previous year. The group has grown 50% in the last two years, up from €33.4 million in 2022. Recurring EBITDA for 2024 rose to €5.48 million, an 80% increase compared to the previous year. Furthermore, the group achieved positive operating cash flow for the first time in 2024, at €0.9 million. For 2025, as the company reported in its results for last year, the company forecasts revenue of €54 million, representing 9% growth, and recurring EBITDA of €6 million, an increase of 16%.

The size of Avatel 's businesses that would be integrated with Parlem would generate an estimated turnover of around €35 ​​million for this fiscal year. If the integration goes through, the resulting company would be worth around €90 million in 2025, but more profitable than the current Parlem thanks to synergies and the wholesale contract.

In addition to its founder, Ernest Pérez Más (who controls 12.44% of the stake through his holding company Afers Laietans), Parlem also owns the fund manager Inveready, controlled by Josep María Echarri, and the Domínguez de Gor family, owners of the textile company Mayoral, who are the main shareholders with 19% . These shareholders - Inveready and the Domínguez de Gor family - will also be imminently present in Avatel 's capital, once the closing of the transaction by which Avatel will be acquired by the holding company Pangea, in which Víctor Rodríguez, the current co-founder and president - and one of the main shareholders - of Avatel, along with Inveready itself, participates. The closing is scheduled for tomorrow, Thursday.

In this way, the presence of common shareholders in both companies would facilitate the agreement, since they believe it would make little sense to be present in two similar companies—with a significant presence in both cases—that also compete in the same territories.