Thames Water Seeks New Bids From Investors by Next Month, Sources Say
- Utility received indicative offers from Castle Water, Covalis
- Ofwat last month determined investor returns, tariff increases
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Potential investors in Thames Water will have to submit new bids for the water utility by Feb. 10, according to people familiar with the matter, as the beleaguered firm seeks an urgent injection of equity to boost its finances.
The highly indebted company told bidders to take industry regulator Ofwat’s December ruling about the scope for bill increases and investor returns into account for their submissions, said the people, who asked not to be identified because the matter is private.