Thames Rescue Deal Stumbles With Ofwat Split Over Approval
Workers cut into the tarmac at a Thames Water repair site in London, UK.
Photographer: Jason Alden/BloombergThe board of UK watchdog Ofwat is split over whether to approve a rescue deal offered by the creditors of Thames Water, increasing the risk the utility could collapse into special administration.
Ofwat’s board — eight men and women charged with deciding the future of the UK’s largest water and sewerage company — have so far failed to reach a consensus on the deal floated last month by senior creditors, according to a person familiar with the matter, who asked not to be identified talking about confidential negotiations.