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Story summary
- A consortium of 100 institutional investors holding £14 billion of debt is ready to bid for Thames Water even if the government moves to temporary nationalisation.
- Creditors are negotiating a £10 billion rescue plan with Ofwat as the utility faces a cash shortfall by October.
- Environment Secretary Emma Reynolds criticised the proposal, saying it would burden consumers, while bidders CK Infrastructure Holdings and Castle Water backed a special administration regime protecting taxpayers.
