Hong Kong billionaire might save UK's biggest water company from collapse
Thames Water needs quick money to avoid running out of cash by years end. Hong Kongʼs richest person Li Ka-shing looks ready to help‚ while already owning another UK water company
Hong Kongʼs wealthiest person Li Ka-shing considers putting money into Thames Water as the company needs fast cash-flow help. His company CK Hutchison (which already controls 75% of Northumbrian Water) got an offer from bankers to join Thames Waters £3bn fund-raising plan
CK Hutchison owns lots of stuff in UK: they have wind-farms Northern Gas Networks and even shops like Superdrug. The companys final choice will depend on what Ofwat says about water bills later this year; this decision could make Thames Water more stable
Just last week Thames Water got some good news – they found £3bn from people who already gave them money. The deal includes £1.5bn right now and maybe £1.5bn more later (which helps them stay ok until fall-2025). Chris Weston who runs Thames said: this money doesnt stop them from looking for more help
Here are other companies that might put money in:
- Brookfield Infrastructure Partners
- Global Infrastructure Partners
- Carlyle group
- Castle Water
- I Squared Capital
The whole thing might help Sir Keir Starmer who doesnt want to make Thames Water public – they have £16bn in debt since spring-24 when rich investors left saying rules made it hard to make money. CK Infrastructure didnt want to talk about their plans
