"Thames Water should be put into administration rather than 'sleepwalking' into a deal that is bad for customers, according to an investor which wants to buy the business."
"CKI Holdings insists that Thames Water's 16 million customers would be better served by allowing it to collapse into administration so that they and others could submit new bids to buy and revive the debt-ridden company."
"'I think the next owner of Thames Water should be an experienced, credible, long-term focused operator with the expertise and the resources to fix Thames Water,' he said."
Thames Water, the UK's largest water company, risks running out of cash within a year without a rescue deal. Existing lenders propose writing off 30% of the debt and injecting new funds, but seek leniency on pollution fines. CKI Holdings Limited aims to present a rival bid, arguing that administration would allow better offers for the company. The government prefers a market-based solution and is considering recommendations from the regulator Ofwat. CKI's co-managing director emphasizes the need for a credible operator to address Thames Water's issues.
Read at www.bbc.com
Unable to calculate read time
Collection
[
|
...
]