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What is behind Thames Water’s cash crunch and is it heading for nationalisation?

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The UK’s biggest water supplier has 16 million households across London and the South East.

Thames Water has been left racing to secure cash once again after its investors withdrew a £500 million funding lifeline that was due at the end of this month.

The payment was the first part of a £750 million financing plan that was agreed by its investors last July, when the debt-laden firm was first said to have been on the brink of emergency nationalisation. It has been owned since 2017 by a consortium including the Universities Superannuation Scheme , China’s sovereign wealth fund, a Canadian pension fund and the BT Pension Scheme.

It said it has £2.4 billion of cash currently available to it, which should see it meet funding needs for the next 15 months, during which time it will look to secure the financing needed.

 

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