Regulator accused of letting hedge funds control Thames Water. Allegation comes as utility waits for Court of Appeal decision over £3bn emergency loan.
Britain’s water regulator stands accused of allowing Thames Water to come under the control of hedge funds and other creditors without a formal transfer of ownership for Britain’s largest water company.
Legal control of Thames Water has passed to creditors providing a controversial £3bn loan to the cash-strapped utility without Ofwat’s formal approval, according to claims set out in a letter to the regulator earlier this month by Charlie Maynard, a Liberal Democrat MP.
