Thames Water ‘close to deal that would spare it new Ofwat fines until 2030’

Offer reportedly put forward by creditors hoping to save struggling firm from being renationalised temporarily

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Thames Water is said to be close to a deal with its regulator that would allow the company to avoid new fines for four years, as long as it commits to investing in the business.

The controversial offer, reported by the Financial Times, has been put forward by creditors who are hoping to save the struggling utility from being temporarily renationalised.