Possible collapse of utility is among crises facing the party should it form the next government
Labour does not want Thames Water to fall into public ownership, shadow business secretary Jonathan Reynolds has said, as the UK’s biggest water supplier teeters on the brink of collapse. Reynolds, who would play a leading role in Labour’s relations with business if the party won the July 4 UK general election, said he “wouldn’t want to see a nationalisation” of Thames Water.
” He also refused to say whether Labour had spoken to any potential buyer of Thames Water after the current shareholders, which include Canadian pension fund Omers and a clutch of sovereign wealth funds, called the company “uninvestable” given the current regulatory regime for the sector. Omers has already written down the value of its stake to zero.
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