Thames Water lenders float new £10bn rescue plan

Latest effort involves paying off fines worth hundreds of millions of pounds as part of bid to stave off financial collapseBusiness live – latest updatesThames Water’s lenders have put forward a £10bn rescue plan that would involve paying off the troubled water company’s hundreds of millions of pounds-worth of fines for leaks and pollution, as part of an effort to stave off financial collapse.A group of private equity firms and investment groups said they would inject about £3.35bn of cash into Thames Water and raise £6.65bn in debt, in exchange for the company not falling into a government-handled administration, in effect a temporary nationalisation. Continue reading...