Thames Water creditors name former Labour minister as chair designate for £10bn rescue
Source Summary
The creditor consortium pursuing a £10bn rescue of Thames Water, Britain's largest water supplier, has named Lord John Hutton, a former senior Labour minister, as independent chair designate if the takeover proceeds. The London & Valley Water group announced the appointment on Tuesday as it seeks to secure government backing for the deal.
Why it matters
The appointment of a prominent former minister signals the creditor group's effort to gain political credibility and government approval for a major restructuring of a critical UK infrastructure asset.
What remains uncertain
The outcome of the takeover bid and government approval remain uncertain.
