Overview
- Castle Water unveiled a renewed bid offering at least £1bn more than current proposals to take control of Thames Water.
- The plan pledges up to 2,000 new jobs and targeted upgrades to wastewater treatment, including Mogden, to curb pollution.
- Thames Water serves about 16 million people and carries roughly £17bn of net debt, driving pressure for a durable recapitalisation.
- The London & Valley Water creditor consortium seeks about £5bn in urgent funding, £20.5bn of investment over five years, and roughly £4bn of debt write-offs.
- Negotiations' status is disputed, with the creditor group targeting approval by Christmas as special administration remains a fallback.