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Judge approves emergency plan to keep Britain's largest water company afloat

A judge in the U.K. has approved an emergency plan for Thames Water, Britain's largest water company, allowing it to raise 750 million pounds ($950 million) in new equity to stave off potential nationalization. This decision comes amidst concerns about the company's financial stability, exacerbated by high debts and the need for substantial infrastructure investments. The plan involves shareholders injecting the funds into the company, which has been under scrutiny for its environmental impact and service issues. The approval aims to provide Thames Water with the necessary financial runway to improve its operations and environmental performance, while also addressing the regulatory and public pressure to ensure the continuity of essential water services.

Read the Full ABC Article at:
[ https://abcnews.go.com/Business/wireStory/judge-approves-emergency-plan-britains-largest-water-company-118916556 ]