Thames Water (TW) Moves Closer to Nationalisation Amid Rescue Objections

AI Summary

The UK government has objected to a rescue deal proposed for Thames Water (TW), indicating a move towards nationalisation. The company serves approximately 16 million customers and is known to have a near £20 billion debt load. Creditors have offered to write off 30% of its debt and inject about £3.35 billion as part of a turnaround plan. However, the government is concerned that the current package does not sufficiently protect consumers or the environment, and without a successful agreement, Thames Water risks running out of cash in the coming months.