The tide is turning on Thames Water: special administration looks best | Nils Pratley

It is still not totally clear what the government wants but the political mood seems to be shifting towards a decisionThames Water nationalisation moves closer as government objects to rescue dealAt last, Emma Reynolds, the environment secretary, has opined on the future of Thames Water. So what's it to be? A takeover by the company's creditors? Special administration, which would allow anyone to pitch up with an offer while the state temporarily funds the company? Or even a quick flush to full nationalisation?Well, two years after Thames's shareholders walked away, and 18 months after the creditors opened talks with regulator Ofwat on the terms on a potential recapitalisation, one still can't say definitively what the government wants. But we do have a better idea: the political mood seems to be shifting firmly towards administration. Continue reading...