Thames Water Invites New Investor Bids by Next Month Amid Financial Struggles
Thames Water is urging potential investors to submit new bids by February 10 as it seeks urgent financial support
Thames Water, Investors, UK, Equity, Ofwat
London: So, Thames Water is in a bit of a pickle. They’re asking investors to throw in new bids by February 10. They really need some cash to keep things afloat.
Apparently, the company is in deep debt and needs at least £3.3 billion to stay on its feet. Their current shareholders think the business is too risky to invest in, which is a tough spot to be in.
They’ve already had a couple of offers, but those came before the regulator, Ofwat, made some decisions about how much shareholders can expect to earn. It’s not looking great for them.
Thames Water is also trying to raise about £3 billion in emergency debt, but that’s facing some pushback from other creditors. They even had to ask a judge in London to approve this funding plan.
It’s a bit of a mess, and if they don’t get the money soon, they might have to go for a temporary nationalization. Fingers crossed they can sort it out!
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