UK Drops Thames Water Administration Plan
British Prime Minister Andy Burnham has reportedly shelved plans to place Thames Water into administration due to high costs and legal risks. Reuters could not immediately verify the Times report.
British Prime Minister Andy Burnham dropped plans to place debt-laden Thames Water into administration during Monday afternoon talks, citing legal risks and execution costs. The reversal comes as the United Kingdom government weighs alternative restructurings for the utility provider. The decision averts an immediate state-led rescue that could have cost taxpayers billions of pounds.
