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...Earlier this month, the Financial Times revealed that the 16 water monopolies paid out a total of £78bn in dividends in the three decades since privatisation to March 2023, while building up £64bn in borrowings...
...The UK’s water regulator has lashed out at the country’s water utilities for paying “significant dividends” to shareholders while failing to fix their poor environmental record, in comments that pile more...
...The updated figures mean that the 16 water monopolies have paid out a total of £78bn in dividends in the 32 years between privatisation in 1991 to March 2023, according to the research, which is based on...
...Although Thames Water insists that investors will not take any cash out of the business until a turnaround is delivered, Ofwat makes no distinction between external and internal dividends....
...But ministers admit that something has to give to stop investors walking away from the company after Thames Water shareholders this week ruled out injecting £500mn of equity....
...Thames Water must sort out its own financial problems, chancellor Jeremy Hunt has said, as he warned that the government would never insure investors against poor decisions....
...Ridley plays introverted, solitary Fran, an office worker in a small town on the Oregon coast....
...Water’s present crisis unscathed....
...This and every other piece of debt outside the ringfence depend solely for its servicing on dividends coming out of the ringfence....
...Any new investors will want to see Ofwat’s draft finding in mid-June that will set out returns investors can expect to make between 2025 and 2030....
...“You’re locked into a programme which is very, very difficult to get out of,” said Curtis....
...This could lead to a curious scenario in which a Chinese sovereign wealth fund’s stake in Thames Water is wiped out, but two Chinese lenders become new shareholders through a debt-for-equity swap....
...He was a very sexual person; I would see him out in the crazy sex clubs in New York. He was handsome and smart and he wasn’t a separatist....
...Equity holders would probably be wiped out, with debt holders also taking a haircut. After that, there will be a viable company remaining....
...The default threatens to wipe out the equity stakes of Thames Water’s nine shareholders, which include Canadian and UK pension funds....
...Thames Water shareholders signalled their readiness to take an estimated £5bn loss on their investment on Thursday as they ruled out injecting new equity into the troubled group....
...They will not run out of money to keep providing water and sanitation services to their customers....
...to take on the climate-related infrastructure overhaul needed to keep untreated sewage out of our rivers and seas....
...How has Thames Water become so indebted? When the former prime minister Margaret Thatcher privatised the water monopolies in 1989, she wiped out their debt....
...This will set out the returns investors can hope to make during the five years from April 2025....
...with water....
...Besides, raising utility bills by 40 per cent or more to bail out greedy shareholders just could not work. It’s not an option. So step one is to put Thames Water into administration....
...Whether Wall Street has the patience to wait it out is another question. richard.waters@ft.com...
...It also threatens to wipe out the stakes of Thames Water’s nine shareholders, which include the Chinese and Abu Dhabi sovereign wealth funds as well as Canadian and UK pension funds....
...Susana Barroso Salcedo, of the Water Advisory Council, a Mexican NGO, says the government’s singling out of brewers was misjudged....
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