Troubled utility Thames Water has said its shareholders will not be injecting the first £500 million of funding that was agreed last summer into the group as industry regulations make its business plan “uninvestible”.
“The first £500 million of the new equity that had been anticipated will not be provided by Thames Water’s shareholders by 31 March 2024,” it revealed. Thames Water has been battling to secure its future since last summer, with a funding crisis leaving the debt-laden firm on the brink of emergency nationalisation.
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