00:01The Villar Group confirms 100% of prime water had been acquired by Crystal Bridges Holding Corporation, the investment firm of pure gold tycoon Lucio Co.
00:09Crystal Bridges is owned by Co's children, with pure gold heir Vincent Co as chairman and president.
00:15The firm will take over amid multiple investigations and calls from local governments nationwide wanting to pre-terminate.
00:21On the ground in Bacolod City, consumers are frustrated by the sale.
00:24The Bacolod City Water District Employees Union says,
00:27Is this the solution? Where is the accountability? Will prime water be allowed to walk away without consequences? Is this yet another attempt to fool the Bacolod nuns?
00:36Bacolod City narrowly avoided a major water crisis this weekend after prime water failed to pay three months of bills, prompting its water supplier to threaten a cutoff.
00:45Prime water not paying its subcontractors is not an isolated incident.
00:48Rappler had reported on another unpaid contractor involved in at least two water districts.
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