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Pacifica Water Ventures (PWV), a foreign government–controlled entity, seeks to acquire 55% of voting shares of Clearwater Waterworks, Inc. (CWWI), a Philippine corporation that operates a public water distribution system under a city franchise. The transaction would result in PWV controlling a public service provider. (a) Identify the controlling rule under Commonwealth Act No. 146, as amended by RA 11659 (Public Service Act), Sec. 24, that governs investments by entities controlled by or acting on behalf of a foreign government, or foreign state-owned enterprises, in public services. (b) Apply the rule to the facts: does PWV’s proposed acquisition fall within the prohibition or regulatory framework? Explain why or why not, addressing (i) PWV’s status as an entity controlled by or acting for a foreign government, (ii) whether CWWI constitutes a public service, and (iii) whether any exemptions or government approvals would be required.