Corporate Governance and PDS Holdings

As I was looking at the tabulation of shareholders of PDS Holdings, several ideas came up which certainly could stand rigorous examination:

I. The business proposal was crafted initially by BAP and IHAP.

IHAP now has a measly 2.53% stake in the business. But then again, IHAP did have a position paper against 392. Is this a lack of faith on their part?

II. The IT vendors are 20% equity holders.

a) Who will govern the IT audits in the future?
b) What safeguards are in place to ensure that cheaper 3rd party solutions are identified which may compete or completely replace the vendors' offerings;
c) Isn't the FIE a technology game? What incentive would a 3rd party solution provider have if the entrenched IT vendor has a right of first refusal or a right to match? What incentive would a 3rd party vendor have if his bright idea is swiped right after he makes a presentation to PDS Holdings?
d) Isn't FIE held hostage to the IT vendors?

I wish to clearly state that I have no axe to grind with the specific vendors but am just asking these questions as a matter of general principle. Should vendors whose products are strategic to the success or failure of the business hold equity in the first place?