Parlem will improve capital and promote belongings after the breakup with Avatel | Companies | EUROtoday

Parlem Telecom has initiated a complete strategic restructuring following the ultimate breakdown of its merger negotiations with Avatel. The board of administrators of the Catalan operator, assembly on March 27, accepted an emergency plan that contemplates a capital improve, the divestment of non-strategic belongings and the appointment of an knowledgeable in restructuring and insolvency as the brand new secretary of the board.

With these measures, the corporate seeks to stabilize its monetary state of affairs and obtain optimistic money stream, after the combination with Avatel’s companies in Catalonia collapsed attributable to discrepancies within the valuation and the shortage of entry to detailed data in the course of the buy audit course of (due diligence).

The up to date marketing strategy, commissioned by the board to government president Ernest Pérez-Mas, is supported by an injection of funds from the present reference shareholders. Among the buyers who will contribute capital is Indumenta Pueri, the holding firm of the Domínguez de la Maza household (homeowners of the textile agency Mayoral), together with Pérez-Mas himself by his agency Afers Laietans.

At the identical time, Parlem has recognized belongings on the market with a view to cut back debt and simplify its working construction. Sources accustomed to the operation point out that among the many belongings designated for divestment is Aproop Telecom, the Valencian operator that Parlem built-in firstly of this decade. Management’s goal is to do away with the least environment friendly traces of enterprise to prioritize the era of fast liquidity.

Change in council

A major motion within the new stage of Parlem is the alternative of the secretary of the board of administrators. Naiara Bueno Aybar, companion in Commercial Law at Garrigues, offered her resignation and has been changed by Agustí Bou Maqueda, from the BDO agency. Bou joins as non-member secretary with a specialised profile in monetary disaster conditions.

The new secretary is acknowledged within the sector for his profession within the Restructuring and Insolvency division of BDO and his expertise as a chapter administrator in extremely complicated processes, corresponding to these of Abengoa, Isolux, Banco Madrid and the listed Optical Industries (INDO) and DOGI. His appointment underlines the operator’s precedence to handle its liabilities and keep away from insolvency situations after the failure of the company operation with Avatel.

The breakdown of negotiations with Avatel places an finish to nearly a yr of talks. According to the knowledge despatched to BME Growth, the combination was initially deliberate as an asset alternate the place Parlem would soak up Avatel’s enterprise in Catalonia and the Levant in alternate for 50.01% of the shareholding of the ensuing entity.

However, the outcomes of the due diligence on Parlem brought on Avatel to demand an adjustment within the alternate equation. The Madrid-based operator demanded to extend its participation to 60% of the capital of the ensuing agency, alleging that Parlem’s efficiency within the final yr had been decrease than anticipated. This demand was met with frontal opposition from the principle Catalan shareholders and from Pérez-Mas himself.

Lack of data

For its half, Parlem justified its withdrawal from the operation by alleging that it was not capable of have the required details about Avatel’s companies to adequately assess the creation of worth for its shareholders. According to the official assertion, the stories ready by Garrigues, RSM and Abanca concluded that data opacity prevented the viability of the merger challenge from being assured.

Parlem’s shareholding management, in line with BME Growth data as of December 31, 2025, reveals a focus of capital in household teams and funding funds. Global Portfolio Investment (Dominguez de la Maza household) leads the shareholding with 19.14%. This group maintains an energetic presence within the Catalan enterprise ecosystem, with stakes in companies corresponding to Sateliot (the place they invested 10 million euros) and Miquel y Costas (14.65%).

Ernest Pérez-Mas, by Afers Laietans SL, controls roughly 12.62% of the shares. The third related block is made up of Ona Capital Privat, a fund owned by Joan Font (Bonpreu) and Joaquim Carandell (Benito Urban Hub), with 12.51% and illustration on the board by Oriol Lobo Barquer. Inveready Evergreen, with 11.53%, completes the group of great shareholders. The fund can be the principle creditor of the corporate’s debt. His departure from the board of administrators occurred firstly of this yr, coinciding with the start of the vital phases of the negotiation with Avatel.

The company disaster was worsened days earlier than the announcement of the adjustment plan with the resignation of the CEO, Xavier Capellades Ramos. Capellades deserted his government duties and his seat on the board citing “personal reasons.” This departure pressured Ernest Pérez-Mas to renew full government features to steer the replace of the marketing strategy for the following three years.

Parlem’s administration will current subsequent week the particular particulars of this new three-year plan, with which it goals to consolidate its place as a reference operator in Catalonia and guarantee monetary sustainability independently, ruling out for the second new large-scale integration operations.