Thames Water discusses rescue plan with creditors and regulator to avoid nationalization amid £12bn debt.
Thames Water, facing £12 billion in debt and operational crises, is in discussions with its creditor group and regulator Ofwat to propose a rescue plan to avoid nationalization. The Abu Dhabi Investment Authority has written off its nearly 9.9% stake, reflecting severe financial challenges. A debt-for-equity swap and new capital are crucial for the utility's survival, with a deadline for agreement set for mid-November before regulatory decisions are made.
October 08, 2024
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