Thames Water CEO Steers Away From Break Up After Covalis Bid
- Equity raise process is drawing credible interest, Weston says
- Crucial regulator ruling on investor returns set for Dec. 19
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The chief executive of Thames Water warned breaking up the utility would be a distraction from dealing with its bigger problems of fixing chronic leaks and sewage spills.
The heavily-indebted utility last week received a bid from Covalis Capital that hinges on a plan to raise money by selling off some Thames assets before floating the remaining company on the stock market.