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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

BT pension scheme lost £300m on Thames Water stake

BT Thames Thames Water Andy Burnham
A Thames Water van is parked near a worker in orange and a white hard hat beside barriers
BT also said the pension scheme had sold its debt in Thames Water to avoid a further write-down, without giving details. Photograph: Mina Kim/Reuters

The BT pension scheme lost £300m after writing off its holding in Thames Water, the UK’s largest water company that is buckling under a £20bn debt pile.

The loss came after the telecoms company’s decision to write off its 8.7% equity stake in Thames in 2024, according to a presentation to analysts captured in a video, in news first reported by the Financial Times.

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