Thames Water has decided to extend the deadline for potential investors to submit bids for £3.3 billion in new equity. The original deadline of November 28 has been moved to December 5.
The extension is due to the utility"s desire for more detailed proposals from investors on how they plan to assist in the company"s turnaround efforts. The decision to push back the deadline is a response to the ongoing challenges faced by Thames Water, which is seeking significant financial backing to stabilize its operations.
Sources familiar with the situation indicate that the extension is intended to ensure that investors provide comprehensive plans alongside their bids.