It seems the creditors attempt to avoid nationalisation of Thames Water may work; despite creditors committing to pay the £750m in fees accrued in the attempt & writing off nearly £10bn in debt, it looks like they have taken the view that this is still a better bet than what they might have received under a forced nationalisation.

OFWAT has still to sign off on the deal, but the mood music from the Govt. suggests they will.

Then we will see how it plays out

#ThamesWater #politics
h/t FT

RE: https://mastodon.social/@fesshole/116716811415559432

There is some truth in this but at a higher level - A high school friends Dad actually worked for #ThamesWater at their #Reading HQ and he had a TI Silentwriter teletype with acoustic coupler - with the right passcodes this could be used to remotely open up the sluices during certain weather conditions and allow sewage to go straight to River Thames to avoid flooding.

He referred to it as the "turd processor" 😁

#ThamesWater
#AndyBurnham

https://www.theguardian.com/politics/2026/jun/05/thames-water-should-be-nationalised-andy-burnham