Avatel simplifies its structure and integrates 25 companies including Torrevieja TV

For a number of years, the Avatel corporation has been purchasing telecom businesses in the Valencian Community, including the province of Alicante. Televisión Costablanca SL, a Torrevieja-based corporation that runs TVT Radio, Televisión Vega Baja, and local Televisión Torrevieja (TVT), was one of the last ones it made in Alicante in 2024. Local and regional reference channels. Now, a merger has absorbed this company along with twenty-four others.

By combining these 25 businesses into its parent firm, Avatel Telecom SA, Avatel has streamlined its organisational structure. As a result, the absorbed companies transfer all of their assets and obligations to the parent company in one lump sum and are dissolved without liquidation. It accomplishes this using the 2023 closed balance sheets and the June 28, 2024, approved Joint Merger Project. In particular, it is a special controlled merger in which Avatel actively participates and owns all of the share capital of these 25 companies.

According to the Official Gazette of the Commercial Registry, the group’s parent company has therefore executed a merger by absorption that will serve to combine some of the local operators that it has been purchasing in recent years and whose original firms still had legal individuality. The operator is often acquired by the company, which then appoints its key executives to the board before rebranding the acquired business as Avatel Telecom.

Valle de Almanzora Telecom, I-Way Community, Scan SAT Network, Fibre Optic Malaga, Aireon Telecom, Extremeña de Comunicaciones por cable, Intercable Fibre, Inforcelra, Canal Priego TV, Cloud Fibre, Carthagosat Antennas, Altasis Telecom, Fam P & G Telecom, Opegal Telecomunicacions, Torneonetwork, Puente Genil Telecommunications Services, LC & LC Telecom, New Communication Systems Operator, Televisión Costablanca, Videopaltelecom, Navega Telecom, Avatel Canarias, Avatel Ceuta, Avatel Data, and Holafibra Telecom.

According to a resolution released by the National Commission for Markets and Competition (CNMC) and reported by Europa Press, Avatel was fined 1.81 million euros in February for supplying “inaccurate or erroneous” information regarding its operations in 2023. Avatel was fined 1.81 million euros, however the CNMC applied a 40% discount for acknowledging responsibility and paying in advance, so Avatel ultimately paid 1.08 million euros.

In the resolution, the CNMC clarifies that Avatel supplied “inaccurate,” “erroneous,” or “out of date” information for the agency’s statistical bulletin for 2023, as well as for the sectoral economic report and geographic monitoring of the telecommunications industry for the same year. For instance, Competition notes that according to the data for the second quarter of 2023 that was requested from Avatel in order to include it in the statistical bulletin, the company supplied data that showed the rise of over 60,000 pay-TV subscribers “without any justification” in a single quarter.