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The Latest Breaking News from Thames

Ministers to block Thames Water paying bosses bonuses out of emergency loan

Exclusive: Firm close to insolvency says using £3bn loan to pay ‘substantial’ bonuses is vital to retain senior managers

The Guardian - UK

A torrent of special pleas from Thames Water

Company hopes to win big compromises from regulators to get its financial restructuring over the line

The Guardian - UK

Thames Water finances were ‘hair raising’, chair tells MPs

Adrian Montague also said some bosses in line for payouts of ‘50% of salary, very substantial bonuses’

The Guardian - UK

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Thames Water chairman apologises to customers but defends bonuses for bosses

Sir Adrian Montague revealed to MPs how close the company had come to running out of money in the last year, calling the situation ‘hair-raising’.

Evening Standard

MPs should not accept any murky answers from Thames Water chair on potential sale

Sir Adrian Montague’s appearance on Tuesday offers perhaps the last chance to scrutinise utility’s dealings

The Guardian - UK

Treasury threatens Defra with £4bn bill if Thames Water nationalised

Exclusive: Treasury threat an example of ‘scare tactics’ to help force through private sector deal, sources suggest

The Guardian - UK

Macquarie ‘very proud’ of Thames Water ownership despite loading it with debt

Some analysts claim investment bank set supplier on course for collapse before selling it in 2017

The Guardian - UK

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Thames Water preferred buyer ‘would multiply problems’, Lords told

The company is hoping to finalise terms of a possible deal.

Evening Standard

UK spending watchdog censures water firms and regulators over sewage failings

NAO finds regulatory gaps have enabled overspending on infrastructure building while not improving sewage works

The Guardian - UK

Thames Water appoints new finance boss

Former Pennon CFO Steve Buck will join Thames Water next week at a ‘pivotal’ moment for the heavily indebted utility.

The Independent UK

The barbarians are at the gates of the sewage works

Choosing KKR as the preferred bidder for the UK’s biggest water company may not fill Thames Water’s workers with joy

The Guardian - UK

Thames Water names US private equity group KKR as preferred bidder

KKR expected to acquire stake worth £4bn as UK’s biggest water supplier tries to stave off nationalisation

The Guardian - UK

Chief finance officer of under-fire Thames Water quits £1.3m-a-year role

Alastair Cochran’s successor to be appointed ‘in due course’ at critical time for cash-strapped company

The Guardian - UK

Thames Water’s finance chief quits as firm continues trying to find a buyer

Alastair Cochran, Thames Water’s chief financial officer, told the firm that he is stepping down on Friday morning, PA news agency understands.

Evening Standard

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Evening Standard

Thames Water's finance chief departs at crucial stage of survival battle

Alastair Cochran steps down next week after more than three years with the utility

The Guardian - UK

Regulators must not go soft on Thames Water now

With six bids on the table, the company’s reference to ‘support and accommodations’ sounds like a plea for special treatment

The Guardian - UK

Thames Water hopes to agree deal with one of six bidders by end of June

Debt-laden company agrees with Ofwat that review of bill rises can be delayed as it seeks buyer

Evening Standard

What does Thames Water’s latest court decision mean for customers?

After a court decision moved Thames Water closer to a £3 billion rescue loan, the PA news agency explains why it needs money and what happens next.

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The Independent UK

Thames Water has secured a £3bn rescue deal. Here’s what it means for customers

A loan deal designed to prevent the utility company from going bust looks set to go ahead

The Independent UK

Thames Water can continue with £3 billion restructure plan after winning court battle

An appeal against the restructure plan has been dismissed

The Guardian - UK

Appeal court rules in favour of £3bn bailout for Thames Water

Judges dismiss appeal from campaigners who argued ‘eye-watering’ cost of loan was not in public interest

Evening Standard

Thames Water's "Class B" creditors consider Supreme Court appeal after losing restructuring challenge

The bondholders say they need to see the wording of the Court of Appeal dismissal before making a decision that could prolong legal wrangling

Evening Standard

Thames Water set for another vital court ruling amid administration warning

A former senior director said the water firm could collapse soon without a funding deal, which would bring it under temporary state ownership.

The Guardian - UK

Thames Water on TV: pity the staff, this place is decrepit

The company presumably hosted this documentary to show the need for higher bills to pay for new infrastructure

The Guardian - UK

Thames Water faces court claim that £3bn bailout is ‘poor, short-term fix’

Campaigners to argue in court of appeal that plan is not in public interest and special administration is best option

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