Financial Crisis At UK's Biggest Water Supplier Worsens

Source: International Business Times

Thames Water is Britain's biggest water supplier AFP Debt-plagued Thames Water revealed Thursday that it failed to raise a major cash injection from shareholders, blaming industry regulations that made its rescue plan "uninvestable". Britain's biggest water supplier said in a statement that GBP500 million ($630-million) of new equity will "not be provided by Thames Water's shareholders" this month. The company added it was in "ongoing" talks with industry regulator Ofwat over a plan that is "affordable for customers, deliverable and financeable for Thames Water, as well as investible for equity investors".