Concerns Thames Water may need government bailout as bidder withdraws
US private equity firm KKR has withdrawn from plans to invest over £3 billion in Thames Water, a heavily indebted water supplier.
Thames Water is now in talks with senior creditors for an alternative plan to stabilise its finances, engaging with regulator Ofwat and other stakeholders.
Thames Water chairman Sir Adrian Montague expressed disappointment but affirmed his commitment to working towards 'sustainable recapitalisation'.
The withdrawal of KKR raises concerns about a potential temporary government nationalisation if a rescue deal cannot be secured.
Thames Water faces approximately £19 billion in debt, and a recent report called for a "fundamental reset" of the water sector in England and Wales due to systemic failures.
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