Thames Water avoids government takeover with last-minute funding but warns substantial investments still needed

Thames Water secured emergency funding from shareholders to address its £14 billion debt and crumbling infrastructure but indicated much more will be required.
Shareholders agreed to provide £750 million to Thames Water until 2025, below the company's £1 billion goal, and may contribute up to £2.5 billion between 2025 and 2030.
The funding comes with conditions requiring Thames Water to develop a "focused turnaround" plan and meet certain regulatory requirements to improve its poor performance and customer satisfaction.
Thames Water has faced environmental and financial issues due to years of neglect from multiple owners focused on profits over investment.
There are calls to renationalize Thames Water to properly address the company's substantial challenges, though immediate government intervention is less likely with the new funding in place.