Thames Water said its investors had agreed to inject 750 million pounds ($960 million) into the company, helping to stave off the threat of nationalisation, but Britain's biggest water utility warned it would need further investment in the years ahead.
Weighed down by 14 billion pounds of debt and under pressure over sewage releases into British rivers and seas, Thames sought to end weeks of speculation about its future, saying it was not close to needing a government rescue.
But there could be further challenges in future for a company which serves around 15 million customers, more than a fifth of Britain's population. Thames Water said its shareholders, which include Ontario Municipal Employees Retirement System, the UK's Universities Superannuation Scheme and China Investment Corp, "acknowledge" that delivering the turnaround plan will require further funds.Thames Water's debt problem has become far more challenging as over half of it is linked to inflation and the cost of servicing it has surged due to the rapid rise in interest rates over the past 18 months.
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