Thames Water rescue deal threatened by uncertainty over next prime minister
The rescue deal for Thames Water is at risk due to uncertainty surrounding the next prime minister. Potential investors are concerned that Andy Burnham may advocate for public ownership of utility companies if he succeeds Keir Starmer. The government is currently negotiating with creditors but faces challenges amid ongoing financial instability at Thames Water.
- ▪Ministers are negotiating a rescue deal for Thames Water with a consortium of creditors led by Elliott Management.
- ▪The deal is threatened by uncertainty over the leadership of the Labour Party and potential public ownership proposals from Andy Burnham.
- ▪Thames Water has been struggling financially for over two years, accumulating a debt of £17.6 billion since its privatization.
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Ministers are negotiating a rescue deal for the stricken water company with a consortium of creditors. Photograph: Mina Kim/ReutersView image in fullscreenMinisters are negotiating a rescue deal for the stricken water company with a consortium of creditors. Photograph: Mina Kim/ReutersUK newsThames Water rescue deal threatened by uncertainty over next prime ministerExclusive: Potential investors fear Andy Burnham could push to bring utility companies into public ownershipHelena Horton and Kiran StaceyTue 19 May 2026 01.00 EDTSharePrefer the Guardian on GoogleA rescue deal for Thames Water is under threat because of a potential change in prime minister, government insiders have said.Ministers are negotiating a takeover deal for the stricken water company with a consortium of creditors led…
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