Thames Water Valuation Cut Two-Thirds by Second-Biggest Investor
- Struggling water utility worth £2 billion after 62% write-off
- Analysts say Ofwat is also to blame for Thames’ woes
A maintenance engineer works at a Thames Water incident site in London, UK.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
Thames Water lost almost two-thirds of its value last year as the struggling utility group came close to collapsing under the weight of its debts, figures from its second-largest shareholder show.
Church Water Investment, which holds 20% of Thames’ parent company Kemble Water Holdings, wrote down the value of the stake by 62%, according to annual accounts to March 2023. The numbers were released on Saturday.