Mislatel passes Senate approval as third telco player
The Senate has approved changes in ownership structure of Mislatel (Mindanao Islamic Telephone Company), the company that holds the third telecommunications franchise for the country. In a measure sponsored by Senator Francis Escudero, transfer of ownership of Mislatel was approved to Davao-based Udenna Corp, Chelsea Logistics Holdings Corp, and to China Telecom. The new holdings in Mislatel will be 35%, 25%, and 40% respectively. Senate Minority Leader Franklin Drilon, Sen. Panfilo Lacson and Sen. Risa Hontiveros, voted against the resolution. Mislatel will remain as the franchise holder.
