Business · 1 hour ago
Thames Water needs £2.4B more to avoid government takeover
Peter Trimming via Wikimedia Commons (CC BY-SA 4.0)
The utility, which owes about £20 billion, expects its cash to dry up by early 2027 without this financial package. It has already spent most of its current £3 billion lifeline after years of neglecting its ageing infrastructure. Lenders have until 29 October to approve the latest borrowing request and stop the government from taking temporary control.
Reported by Reuters · How we write briefs