The creditors bidding to rescue Thames Water remain confident they will be able to present a revised takeover proposal to Andy Burnham

Thames Water and the group of creditors vying to buy it have still had no engagement with Andy Burnham’s team, City AM understands.

The creditors bidding to rescue Thames Water remain confident they will be able to present a revised takeover proposal to Andy Burnham

The incoming Prime Minister is set to make an unprecedented move

Andy Burnham is set to push Thames Water into special administration, in an unprecedented move which could hand the taxpayer a £2bn bill.

Thames Water’s chief executive Chris Weston has called for urgent clarity from the prime minister-in-waiting over his plans for the sector

The creditors seeking to gain control of Thames Water have opened the door to greater public control of the struggling utility.

It has been suggested that the incoming prime minister will temporarily nationalise the company.

In a warning against nationalisation, the creditor group said it would seek to recover the company's outstanding debts through the courts if the government takes control

The group of creditors vying to take control of Thames Water has said it is willing to grant the government a “golden share” in the company.