Thames Water bosses faced fury today as shareholders withheld the injection of a planned £500 million in much needed ‘survival’ funding, sparking a call for the firm to be put into special administration.
This morning, a Government spokesperson suggested nationalisation could be back on the table, MPs called for an emergency rescue, shareholders attempted to pass the blame to Ofwat, the regulator called on the Thames board to “pursue all options”, the utility’s holding company warned it could default on its debt and City traders sold off its bonds at discount prices.
