A consortium of institutional investors holding the majority of Thames Water’s debt has proposed a “golden share” to the government. This last-ditch offer is an attempt to persuade officials to abandon plans to nationalize the struggling utility provider.
London & Valley Water (L&VW), which represents £17 billion of the company’s £21 billion debt pile, acknowledged the political desire for increased public oversight. The group argues that this mechanism would satisfy demands for greater accountability and control without full state ownership.
Avoiding Nationalisation
The investors detailed their willingness to grant ministers significant powers over critical business decisions. By implementing this special share, the consortium aims to facilitate better cooperation between the company, regulators, and local government while keeping the asset in private hands.
Source: The Guardian