Thames Water's Lenders Propose New Leadership to Avoid Government Takeover

Thames Water owes £21bn. Lenders owed £17bn want a new chair — Mike McTighe replacing Sir Adrian Montague — plus three new directors. Their £10bn rescue plan would keep the company private, avoiding temporary government takeover. Campaign group We Own It called it a "cosy stitch-up." Andy Burnham's government may step in and run the utility itself instead.