Government and Creditors Push Market Solution for Thames Water
Thames Water serves 16 million in London and Thames Valley. Debt over £22 billion. Possible special administration. Long-term issues: burst mains, river pollution. Government contingency plans. Market-based solution sought. Senior creditors hold £13 billion, plan equity injection and write-off. Chancellor supports market-based solution. Creditors' offer to preserve operation. Controversy over regulatory failures and lobbyist appointments