Thames Water Creditor Rescue Deal

What happened

The outlets' own sentences, most widely reported first. Hover or tap one to see who reported it.

Analysis

How it changed

1. 17 Sep

   Creditors – who collectively own about £17 billion of Thames Water’s debt mountain of more than £20 billion – have already been sent back to the drawing board after former environment secretary Emma Reynolds warned in June she did not believe their plan went far enough to protect customers or the environment.

   2 outlets · Evening Standard

Coverage 4 articles

• 18 Sep Thames Water rescue deal should be rejected - MPsA cross-party committee of MPs has advised the UK government to reject a £10 billion takeover proposal from Thames Water’s creditors. The EFRA Committee report claims that placing Thames Water into special administration—a form of temporary nationalisation—is necessary due to the company's poor financial state, with roughly £20 billion in debt and serving 16 million customers. The committee argues that the current…BBC
• 18 Sep Thames Water’s £10 billion creditor rescue deal should be ditched, say MPsMembers of the Environment, Food and Rural Affairs (Efra) Committee are urging the UK government to reject a £10 billion creditor rescue deal proposed for Thames Water, arguing that it prioritizes immediate financial gain over long-term public interest. The committee claims the consortium of over 100 creditors, including US investment firms like Elliott Management and Apollo Global Management, lacks transparency and…Evening Standard
• 18 Sep MPs urge ministers to break off Thames Water talks with US hedge fundsMPs from various parties are urging ministers to terminate negotiations with US hedge funds over Thames Water, which has £20bn in debt and serves 16 million customers. The group claims these private entities lack expertise to manage the essential public service effectively and criticizes their opaque dealings while seeking relief from environmental fines and penalties. Alistair Carmichael, chair of the environment…The Guardian
• 17 Sep Thames Water’s £10 billion creditor rescue deal should be ditched, say MPsMPs from the Environment, Food and Rural Affairs Committee have called for Thames Water’s £10 billion creditor rescue deal to be rejected. The committee claims the plan prioritizes immediate profit extraction over long-term success and lacks transparency due to its “opaque” consortium of over 100 creditors. They propose that the government should take control of Thames Water, which faces a debt mountain exceeding…Evening Standard

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