Header Ads

OPPO ad

Mislatel says franchise is valid in Senate third telco hearing

P20 leaderboard
Mislatel consortium insists franchise is valid in Senate third telco hearing unless challenged in court or revoked by Congress.
Mislatel says franchise is valid in Senate third telco hearing
Mislatel's logo

Mislatel consortium insists franchise is valid

Adel Tamano, the spokesman of Mislated said a "quo warranto" proceeding was needed to challenge the franchise. Tamado added that without going to the legal matters, there has been no positive act that would revoke the existence of the franchise of Mislatel.

Franklin Drilon, Senate Minority Leader, said last hearing that Mislatel's franchise was deemed revoked for failure to comply with its terms.

The last hearing also revealed that a company, also called Mislatel, is the holder of the franchise that was granted in 1998.

Drilon also added that the third telco's failure to inform lawmakers about the change in its ownership could be grounds for the franchise revocation.

The report of ABS-CBN said that Adel Tamano argued that there was no direct sales of shares. Mislatel CEO Nicanor Escalante acquired controlling interest via stock subscription.

To read the full report, check our source below.

Source: ABS-CBN
Powered by Blogger.
close
gizguide