Thames Water Seeks Its Next Move With No Easy Options in View
- Shareholders refused to inject £500 million of equity
- Parent Kemble is facing insolvency as it can’t repay debts
The lack of fresh funds raises troubling questions for the future of the company.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The future of the UK’s largest water and sewage company, Thames Water Utilities Ltd., was thrown in doubt on Thursday after shareholders declared the company is “uninvestable” under the current regulatory regime.
Shareholders refused to inject a long-awaited £500 million ($632 million) of equity after the regulator indicated there was no leeway on the terms for the company’s investment plan.