UK MPs urge government to reject Thames Water creditor rescue and renationalize the company

A cross-party committee of British MPs has recommended that the government reject a £10 billion rescue deal for Thames Water, the UK's largest water supplier, and instead take the company into public control. The Environment, Food and Rural Affairs Committee said the takeover by a consortium of over 100 creditors does not have the public's or the environment's interests at heart. The committee also called for legal changes to allow earlier government intervention. Thames Water, which serves 16 million customers, has warned it may run out of money by the end of the year.