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Ministers stepping up preparations for renationalisation of Thames Water

Environment secretary indicates that calls from creditors for leniency from fines and penalties will be rejected• Business live – latest updatesThe environment secretary, Steve Reed, has said the government is stepping up preparations for temporary nationalisation of Thames Water, indicating it will reject pleas from the company’s creditors for leniency from fines and penalties.Thames Water’s largest creditors control the utility and have made a bid to cut some of its debts and provide £5.3bn in new funding to try to turn it around. Continue reading...

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