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.
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