Britain's Ofwat board split over approval for Thames Water rescue deal, Bloomberg News reports

Published: 2026-04-14 12:40:39 ET IVZ

Published on 04/14/2026 at 12:40 pm EDT

April 14 (Reuters) - The board of UK water regulator Ofwat is split over whether to approve a rescue deal offered by the creditors of Thames Water, Bloomberg News reported on Tuesday, citing a person familiar with the matter.

The water regulator's board has so far failed to reach a consensus on the deal floated by senior creditors to save Britain's largest water supplier, the report said.

Thames Water, which is at the centre of a sewage scandal in Britain, could be nationalised if regulators fail to agree a deal with the group of senior creditors, which includes Invesco, Elliott Management and Silver Point Capital.

The creditor group, called London & Valley Water, made a new offer to rescue Thames Water in March, which included 3.35 billion pounds ($4.54 billion) of new equity and up to 6.55 billion pounds of new debt.

An Ofwat spokesperson told Reuters it is continuing to engage with London & Valley Water and reviewing their plans carefully to assess whether they deliver a turnaround in Thames Water's operational performance and strengthen its financial resilience.

Thames Water did not immediately respond to a Reuters request for comment.

($1 = 0.7377 pounds)

(Reporting by Unnamalai L and Ankita Bora in Bengaluru; Editing by Shailesh Kuber)