Thames Water moves step closer to nationalisation after government objects to rescue deal

Article excerpt

Thames Water, England's largest water company, moved closer to state ownership after the government rejected a private rescue package worth £3.3 billion. Officials said the offer failed to adequately protect consumers and the environment, dimming hopes that private investment could solve the utility's mounting debt crisis. The company has long struggled with aging infrastructure, sewage leaks, and debt exceeding £15 billion. Nationalisation would mark a dramatic reversal for an industry privatised in 1989, though the government stopped short of confirming such a move was imminent.