Thames Water creditors open to government 'golden share' to avoid nationalization under Andy Burnham

Thames Water's creditors have signaled willingness to accept partial government ownership, potentially through a 'golden share' giving ministers veto power, as incoming Prime Minister Andy Burnham pushes for greater public control of the water industry. The creditors, owed £17bn collectively, are preparing a revised business plan offering more private investment in infrastructure and board engagement with local authorities. This comes as Burnham reportedly considers placing Thames into special administration, which some view as a precursor to nationalization. Creditors have offered at least £20bn in funding through 2030, including £10bn in capital spending. They seek leniency on performance fines in return. No formal offer has been tabled, and creditors have not yet engaged with Burnham's team. The government has been preparing for possible administration since last year, appointing FTI Consulting as advisers. Thames bosses believe the company does not yet meet the threshold for administration but needs a £2bn cash injection to survive beyond December.