UK's Burnham drops Thames Water administration plan, The Times reports

Key Takeaways

• Plans to put Thames Water into a Special Administration Regime (SAR)—effectively a temporary nationalisation—have been dropped by PM Andy Burnham over cost and legal risks, as reported by The Times. Our independent verification is pending Reuters confirmation.
• Creditors had proposed a £10 billion rescue with new board appointments (Liz Barber and Clive Selley) to reassure government and avoid nationalisation. The plan was widely criticised as mere corporate reshuffling. (theguardian.com)
• Earlier, the Environment Secretary raised serious concerns that proposed recapitalisation measures could burden consumers, weaken environmental protections, and defer critical investments by up to a decade. (gov.uk)