Thames Water moves step closer to nationalisation after government objects to rescue deal (opens original article in a new tab)

The UK government has objected to a proposed £10bn rescue deal for Thames Water, increasing the likelihood of temporary nationalisation. The company's lenders have offered debt write-offs and new funding, but the government claims the plan does not adequately protect consumers or the environment. Ofwat will decide on the proposal this summer.

• UK government objects to Thames Water's rescue deal, moving it closer to nationalisation
• Thames Water's lenders propose £10bn plan to reduce debt and improve services
• Ofwat to decide on the rescue deal this summer